COMPANIES (MEETINGS AND POWERS OF BOARD) AMENDMENT RULES, 2014
PREAMBLE
In exercise of the powers conferred under sections 173, 175, 177, 178, 179, 184, 185, 186, 187, 188, 189 and section191 read with section 469 of the Companies Act, 2013 (18 of 2013), the Central Government hereby makes the following rules to amend the Companies (Meetings and Powers of Board) Rules, 2014, namely:-
Rule 1 - RULE 1
(1) These rules may be called the Companies (Meetings and Powers of Board) Amendment Rules, 2014.
(2) They shall come into force on the date of their publication in the Official Gazette.
Rule 2 - RULE 2
In the Companies (Meetings and Powers of Board) Rules, 2014, in rule 6, after the explanation, the following shall be inserted, namely:-
"Provided that public companies covered under this rule which were not required to constitute Audit Committee under section 292A of the Companies Act, 1956 (1 of 1956) shall constitute their Audit Committee within one year from the commencement of these rules or appointment of independent directors by them, whichever is earlier:
Provided further that public companies covered under this rule shall constitute their Nomination and Remuneration Committee within one year from the commencement of these rules or appointment of independent directors by them, whichever is earlier."
