Companies Act

CSR activities through charitable company trust society and track record requirement. The Companies CSR (Policy) Amedment Rules 2016-MCA Notification

CSR activities through charitable company trust society and track record requirement. 

MINISTRY OF CORPORATE AFFAIRS

Notification 

New Delhi, the 23rd May, 2016

G.S.R. 540(E).—In exercise of the powers conferred under section 135 and 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 (Corporate Social Responsibility Policy) Rules, 2014, namely:—

1. Short title and commencement – (1) These rules may be called the Companies (Corporate Social Responsibility Policy) Amendment Rules, 2016.
(2) They shall come into force on the date of their publication in the Official Gazette.

2. In the Companies (Corporate Social Responsibility Policy) Rules, 2014, in rule 4, for sub-rule (2), the following sub-rule shall be substituted, namely:—

“(2) The Board of a company may decide to undertake its CSR activities approved by the CSR Committee, through

(a) a company established under section 8 of the Act or a registered trust or a registered society, established by the company, either singly or alongwith any other company, or

(b) a company established under section 8 of the Act or a registered trust or a registered society, established by the Central Government or State Government or any entity established under an Act of Parliament or a State legislature :

Provided that- if, the Board of a company decides to undertake its CSR activities through a company established under section 8 of the Act or a registered trust or a registered society, other than those specified in this sub-rule, such company or trust or society shall have an established track record of three years in undertaking similar programs or projects; and the company has specified the projects or programs to be undertaken, the modalities of utilisation of funds of such projects and programs and the monitoring and reporting mechanism”.

[F. No. 05/12/2016-CSR-Cell]

AMARDEEP SINGH BHATIA, Joint Secy.

Note.—The principal rules were published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R. 129(E), dated the 27th February, 2014 and were subsequently amended by notification number G.S.R. 644(E), dated the 12th September, 2014 and notification number G.S.R. 43(E), dated the 19th January, 2015.

Share

Recent Posts

  • SEBI

EoGM of company can not ratify diversion of fund raised by preferential issue – SC

Ratification by EoGM of the company can not give legality of the diversion of the fund raised by preferential issue.…

6 hours ago
  • Excise/Custom

Return of export cargo from Hormuz Strait where vessel do not lands at original port

CBIC prescribes procedures for return of export cargo from international waters due to closure of the Strait of Hormuz where…

8 hours ago
  • Income Tax

Disallowance u/s 13(1)(c) can’t be made primarily that specified concerns earned higher profits.

Mere higher profit margins would not make payments made by Trust as diversion of funds for the benefit of the…

2 days ago
  • society

Chartered Accountant can’t be made an Inquiry Officer u/s 24 of Societies Registration Act 1860

Chartered Accountant can’t be made an Inquiry Officer under section 24 of Societies Registration Act 1860 – High Court In…

2 days ago
  • Government

Revised turnover threshold for grant of license/registration to food businesses in India

FSSAI revises turnover threshold for grant of license/registration to various food businesses in India under Food Safety and Standards (Licensing…

2 days ago
  • Government

Persons with Piped Gas connection to surrender domestic LPG connection immediately

Persons with Piped Gas connection to surrender domestic LPG connection and not to obtain a domestic LPG connection Amidst the…

3 days ago