The Ministry of Corporate Affairs on 10th June 2022, has published the Companies (Appointment and Qualification of Directors) Second Amendment, Rules, 2022 to further amend the Companies (Appointment and Qualification of Directors) Rules, 2014.
The amendment is brought under rule 6 which deals with Compliances required by a person eligible and willing to be appointed as an independent director:
Rule 6(4) states that every individual whose name is so included in the data bank shall pass an online proficiency self-assessment test conducted by the institute within a period of 2 years from the date of inclusion of his name in the data bank, failing which, his name shall stand removed from the databank of the institute.
Until now, if the name was removed under sub-rule (4), the individuals whose names were so removed were required to apply afresh under sub-rule (1), however, vide this notification, an opportunity is provided to such individuals to restore their names upon payment of fees of ₹1,000/- subject to the following conditions: