Companies (Appointment and Qualification of Directors) Second Amendment Rules, 2020

MCA vide its notification dated April 29, 2020 has notified the Companies (Appointment and Qualification of Directors) Second Amendment Rules, 2020 allowing every individual, who has been appointed as an Independent Director in a company as on December 1, 2019, a period of seven months to apply online to the Indian Institute of Corporate Affairs at Manesar (‘Institute’) for inclusion of his name in the data bank for a period of one year or five years or for his life-time.  

The Original Rules (i.e. the Companies (Appointment and Qualification of Directors) Fifth Amendment Rules, 2019) allowed a period of three months from December 1, 2019 for registration of an individual with the Institute. The said period was extended to five months vide the Companies (Appointment and Qualification of Directors) Amendment Rules, 2020