Companies (Appointment and Remuneration of Managerial Personnel) Amendment Rules, 2018

Companies (Appointment and Remuneration of Managerial Personnel) Amendment Rules, 2018

[To be published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-Section (i)]

Government of India
Ministry of Corporate Affairs

NOTIFICATION

New Delhi, 12th September, 2018

G.S.R. .-In exercise of the powers conferred by sub-sections (1) and (2) of 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 Remuneration of Managerial Personnel) Rules, 2014, namely:-

1. (1) These rules may be called the Companies (Appointment and Remuneration of Managerial Personnel) Amendment Rules, 2018.

(2) They shall come into force on the date of their publication in the Official Gazette.

2. In the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014,

(i) in rule 6

(a) for the heading ‘application to the Central Government’ the heading ‘Parameters for consideration of remuneration’ shall be substituted.

(b) the words ‘Central Government shall be omitted

(ii) in rule 7, sub-rule (2) shall be omitted

(iii) for form no. MR-2, the following form shall be substituted

Form No. MR-2
Form of application to the Central
Government for approval of appointment of
managing director or whole time director or
manager

(Pursuant to section 196 and Schedule V of the Companies Act
2013 and Rule 7 of Companies (Appointment and
Remuneration of Managerial Personnel) Rules, 2014)

[F. No. l/5/2013 CL-V]

K.V.R.Murty, Joint Secretary

Note: – The principal rules were published in the Gazette of India, Extraordinary, Part-II, Section 3, sub-section (i), vide number G.S.R. 249(E), dated the 31st March’ 2014, subsequently amended vide notification number G.S.R. 390(E) dated 09.06.2014 and lastly amended vide notification number G.S.R. 646 (E) dated 30.06.2016.

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