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

  • Income Tax

Every provision invoked casts a different onus, quoting wrong section prejudice the assessee

Every provision invoked casts a different sort of onus on the assessee – ITAT deleted addition u/s 69 towards bogus…

16 minutes ago
  • Insurance

Liability under MV Act can’t be decided on the grounds of sympathy alone – Supreme Court

Liability under the Motor Vehicles Act can’t be decided on the grounds of sympathy alone but must be established by…

13 hours ago
  • ICAI

ICAI notifies dates of CA Foundation, Intermediate & Final Exams May 2026

ICAI notifies Dates of CA Foundation, Intermediate and Final Exams May 2026 The Institute of Chartered Accountants of India has…

14 hours ago
  • Income Tax

Interest u/s 234A can’t be levied on self-assessment tax paid before due date of filing ITR

Interest under section 234A cannot be levied on self-assessment tax paid before the due date of filing of return of…

16 hours ago
  • SEBI

SEBI defers timeline for implementation of Phase III of Nomination

SEBI defers timeline for implementation of Phase III of Nomination SEBI had issued a circular on “Revise and Revamp Nomination…

1 day ago
  • RBI

RBI revises directions on opening & Maintenance of CC, CA & OD by Banks

RBI revises directions on opening & Maintenance of Cash Credit accounts, Current Accounts and Overdraft Accounts by all Banks Reserve…

1 day ago