TMI BlogCompanies (Appointment and Qualification of Directors) Fifth Amendment Rules, 2019.X X X X Extracts X X X X X X X X Extracts X X X X ..... exercise of the powers conferred by section 149 read with section 469 of the Companies Act, 2013 (18 of 2013) , the Central Government hereby makes the following rules further to amend the Companies (Appointment and Qualification of Directors) Rules, 2014 , namely:- 1. (1) These rules may be called the Companies (Appointment and Qualification of Directors) Fifth Amendment Rules, 20 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ent, shall before such appointment, apply online to the institute for inclusion of his name in the data bank for a period of one year or five years or for his life-time, and from time to time take steps as specified in sub-rule (2), till he continues to hold the office of an independent director in any company: Provided that any individual, including an individual not having DI ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Board, each time he submits the declaration required under sub-section (7) of section 149 of the Act. (4) Every individual whose name is so included in the data bank under sub-rule (1) shall pass an online proficiency self-assessment test conducted by the institute within a period of one year from the date of inclusion of his name in the data bank, failing which, his name shall stand ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sion institute means the Indian Institute of Corporate Affairs at Manesar notified under sub-section (1) of section 150 of the Companies Act, 2013 as the institute for the creation and maintenance of data bank of Independent Directors; (b) an individual who has obtained a score of not less than sixty percent. in aggregate in the online proficiency self-assessment test shall be de ..... X X X X Extracts X X X X X X X X Extracts X X X X
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