Rule 3 - Approval of the Central Government in case of appointment of relatives, etc. of Directors. - Director’s Relatives (Office or Place of Profit) Rules, 2003

Approval of the Central Government in case of appointment of relatives, etc. of Directors.- 03. No appointment for an office or place of profit in a company shall take effect unless approved by the Central Government on an application, in respect of- (a) Partner or relative of a director or manager; or (b) Firm in which such director or manager, or relative of either is a partner; or (c) Private company of which such director or manager or relative of either is a director or member, which carries a monthly remuneration exceeding 1 [ ₹ 2,50,000 ] p.m. ************** NOTES:- 1. Substituted vide Notification No. F.NO. 17/75/2011-C.L.V dated 06-04-2011 before it was read as ₹ 50,000