Introduction to Appointment of Directors
The Ministry of Corporate Affairs (MCA) introduced the Companies( Appointment of Directors) rules in the year 2014 on March 31st. These rules were implemented in accordance with rules in the Companies Act, 2013 and in the suppression of the Companies Act of 1956. The rules laid down the foundation for defining the provisions for acquiring DIN(Director’s Identification Number), Provisions for female members of the board, qualifications for a director. The founding laws also dictated the provisions of Small Shareholder’s Director, Consent to be a director and the procedure for application for allotment of Director Identification number along with its respective forms.
Amendments to Appointment and Qualification of Directors
On the 12th of June, the MCA through a notification made an amendment to the existing rules.
The amendment aims at scraping the old forms DIR-3 and DIR-6 and substitutes them with forms DIR-03 and DIR-06 respectively.
If you’re a director and you haven’t filed DIR-3 e-KYC, it is recommended to file the e-form before 1st of September since the government has imposed heavy penalty on non-filing of DIR-3 KYC.
You can refer the official Notification from the Ministry below to read about the amendment.
GOVERNMENT OF INDIA
MINISTRY OF CORPORATE AFFAIRS
New Delhi, 12th June 2018
G.S.R. 558(E).– In exercise of the powers conferred by section 149 and 168 of read with 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 Qualification of Directors) Rules, 2014, namely:-
1.(1) these rules may be called the Companies (Appointment and Qualification of Directors) Third 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 Qualification of Directors) Rules, 2014, in the annexure, (i) for form DIR-3, the following form shall be substituted;-
(i) for form DIR-3, the following form shall be substituted;-
(ii) for form DIR-6, the following form shall be substituted;
F.No.01/22/2013 CL-V (Pt-III)]
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 notification number G.S.R. 259(E), dated the 31St March, 2014 and subsequently amended vide the following notifications:-
|Serial Number||Notification Number||Notification Date|
|2.||G. S. R. 42(E)||19.01.2015|
|4.||G.S.R. 51 (E)||22.01.2018.|
|5.||G.S.R. 431 (E)||07.05.2018|
As a director with many responsibilities, it can be a challenging task to keep up with the laws and legalities which are undergoing constant change and evolution. Follow our blog to stay up to date on the latest on the laws for directors.
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