Director’s Relatives (Office or Place of Profit) Amendment Rules, 2011 - Amendment in rule 3

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..... fit) Amendment Rules, 2011 - Amendment in rule 3 In exercise of the powers conferred by clause (b) of sub-section (1) of section 642, read with sub-section (1B) of section 314 of the Companies Act, 1956, the Central Government hereby makes the following rules to amend the Director s Relatives (Office or Place of Profit) Rules, 2003, namely: 1. (1) These rules may be called Director s Relat .....

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..... ection of director for holding place of office or profit in the company shall have to be also approved by a Selection Committee. Explanation .- For the purpose of this sub-rule, the expression Selection Committee means a committee, the majority of which shall consist of independent directors and an expert in the respective field from outside the company: Provided that in case .....

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