Announcement by CL&CGC ICAI Regarding Amendment in Companies- (25-08-2021)

Announcement

Sub: Amendment in Companies (Appointment and Qualification of Directors) Rules, 2014- A Chartered Accountant in practice for atleast 10 years is not required to clear online proficiency test to become Independent Director

This is to inform you that the Ministry of Corporate Affairs vide its notification dated 19 th August 2021 has amended the provisions of Rule 6 of Companies (Appointment and Qualification of Directors) Rules, 2014 to relax the requirements for passing self-proficiency test in respect of certain individuals/professionals.

Accordingly, now the Chartered Accountants who are or have been, in practice for at least ten years are not required to pass the online proficiency self-assessment test to become Independent Director.

The following amendments have been made in the aforesaid Rules. Analysis of which is given below:

 

 

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