## Report on the Companies Meetings of Board and its Powers Fourth Amendment Rules, 2020
**1. Executive Summary:**
This report analyzes the Companies Meetings of Board and its Powers Fourth Amendment Rules, 2020, as published in the Gazette of India on December 30, 2020. This amendment modifies the Companies Meetings of Board and its Powers Rules, 2014, specifically pertaining to a deadline extension. The key finding is the extension of a previously established deadline from December 31, 2020, to June 30, 2021. This report provides an overview of the amendment, its rationale, and potential impact on the affected industries.
**2. Introduction:**
This report aims to provide a concise and informative analysis of the Companies Meetings of Board and its Powers Fourth Amendment Rules, 2020, based solely on the official government publication text provided. The report details the amendment's purpose, key provisions, and potential implications for companies operating under the Companies Act, 2013.
**3. Policy Overview:**
This amendment modifies the Companies Meetings of Board and its Powers Rules, 2014. The core objective, as inferred from the amendment text, is to grant an extension related to a deadline previously set within the 2014 Rules.
**4. Background and Rationale:**
This amendment addresses a specific deadline contained within the Companies Meetings of Board and its Powers Rules, 2014. The original rule stipulated a deadline of December 31, 2020. The rationale for this specific amendment, based on the text, is to provide additional time, extending the deadline to June 30, 2021. The text does not explicitly state the reasons for the extension, but it can be inferred that circumstances necessitate additional time for compliance with the specific rule affected.
**5. Key Provisions / Changes:**
This amendment directly modifies rule 4, sub-rule 2 of the Companies Meetings of Board and its Powers Rules, 2014.
* **Specific Part of Original Policy Changed:** Rule 4, sub-rule 2 of the Companies Meetings of Board and its Powers Rules, 2014.
* **New Rule/Provision:** The amendment substitutes "31st December, 2020" with "30th June, 2021".
* **Difference/Effect of Change:** This change extends a deadline. Companies previously required to meet a specific requirement by December 31, 2020, are now given until June 30, 2021, to comply. This grants affected companies an additional six months.
**6. Target Audience and Stakeholders:**
The target audience and stakeholders directly affected by this amendment are companies governed by the Companies Act, 2013, specifically those impacted by the requirements outlined in rule 4, sub-rule 2 of the Companies Meetings of Board and its Powers Rules, 2014. This includes the Board of Directors and company secretaries responsible for ensuring compliance with the Act and its related rules.
**7. Implementation Aspects (Inferred):**
* **Responsible Agency/Bodies:** The Ministry of Corporate Affairs is the responsible agency, as indicated by the notification.
* **Timelines:** The amendment comes into force on the date of its publication in the Official Gazette (December 30, 2020). The crucial timeline aspect is the extended deadline, now June 30, 2021.
* **Implementation Related to the Changes:** Companies need to adjust their compliance schedules to reflect the new deadline of June 30, 2021, for the specific requirement addressed in rule 4, sub-rule 2 of the 2014 Rules.
**8. Expected Outcomes / Impact of Changes:**
The likely intended outcome of this amendment is to provide companies with additional time to meet the requirements outlined in rule 4, sub-rule 2 of the Companies Meetings of Board and its Powers Rules, 2014. The potential impact is reduced pressure on companies facing difficulties in meeting the original deadline, allowing for more thorough compliance and potentially avoiding penalties for non-compliance due to time constraints.
**9. Conclusion:**
The Companies Meetings of Board and its Powers Fourth Amendment Rules, 2020, is a focused amendment that extends a specific deadline from December 31, 2020, to June 30, 2021. This extension provides affected companies with additional time to comply with the relevant provisions of the Companies Meetings of Board and its Powers Rules, 2014. This change is significant as it offers regulatory relief and allows companies more flexibility in meeting their obligations under the Companies Act, 2013.
Key Entities Referenced
Ministry of Corporate Affairs: The government ministry responsible for the notification.
Companies Act, 2013: The primary legislation being amended, specifically sections 173, 177, 178, 186 and 469.
Central Government: The governing body issuing the rules.
Companies Meetings of Board and its Powers Rules, 2014: The specific rules being amended by this notification.
Companies Meetings of Board and its Powers Fourth Amendment Rules, 2020: The title of the amending rules introduced by this notification.
Manoj Pandey: Jt. Secy. - Joint Secretary who signed the notification.
New Delhi: Location where notification was issued. No state given in document, assuming this is New Delhi, Delhi
रजिस्ट्री स.ं डी.एल.- 33004/99 REGD. No. D. L.-33004/99
xxxGIDHxxx
सी.जी.-डी.एलxx.x-GअI.D-E0x1x0x 12021-224075
CG-DL-E-01012021-224075
असाधारण
EXTRAORDINARY
भाग II—खण् ड 3—उप-खण्ड (i)
PART II—Section 3—Sub-section (i)
प्राजधकार स ेप्रकाजित
PUBLISHED BY AUTHORITY
स.ं 671] नई ददल्ली, बुधवार, ददसम्ब र 30, 2020/पौष 9, 1942
No. 671] NEW DELHI, WEDNESDAY, DECEMBER 30, 2020/PAUSHA 9, 1942
कारपोरेट काय यमत्रं ालय
अजधसचू ना
नई ददल्ली, 30 ददसम्बर, 2020
सा.का.जन. 806 (अ).—केन्द्रीय सरकार, कंपनी अजधजनयम, 2013 (2013 का 18) की धारा 469 के साथ पठित
धारा 173, धारा 177, धारा 178 और धारा 186 द्वारा प्रदत्त िजियों का प्रयोग करते हुए, कंपनी (बोडय की बैिकें और
इसकी िजियां) जनयम, 2014 का और संिोधन करन े के जलए जनम्नजलजखत जनयम बनाती ह,ै अथायत्:-
1. (1) इन जनयमों का संजिप्त नाम कंपनी (बोड यकी बैिकें और इसकी िजियां) चौथा संिोधन जनयम, 2020 ह।ै
(2) ये जनयम रािपत्र में उनके प्रकािन की तारीख को प्रवृत्त होंगे।
2. कंपनी (बोडय की बैिकें और इसकी िजियां) जनयम, 2014 के, जनयम 4 के, उप-जनयम (2) म,ें “31 ददसम्बर,
2020” अंक, अिर और िब्द के स्ट्थान पर “30 िून, 2021” अकं , अिर और िब्द रखे िाएगं े।
[फा.सं.1/32/2013-सीएल-V-भाग]
मनोि पाण्डेय, संयुि सजचव
ठटप्पण : मलू जनयम भारत के रािपत्र, असाधारण, भाग-II, खंड 3, उपखंड (i) म ें अजधसूचना संखयांक सा.का.जन. 240(अ)
तारीख 31 माचय, 2014 द्वारा प्रकाजित दकए गए थे और तत्पश्चात् जनम्नानुसार संिोजधत दकए गए:-
1. सा.का.जन. 398(अ), तारीख 12 िून, 2014;
2. सा.का.जन. 590(अ), तारीख 14 अगस्ट्त, 2014;
6436 GI/2020 (1)2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(i)]
3. सा.का.जन. 206(अ), तारीख 18 माचय, 2015;
4. सा.का.जन. 971(अ), तारीख 14 ददसंबर, 2015;
5. सा.का.जन. 309(अ), तारीख 30 माचय, 2017;
6. सा.का.जन. 880(अ), तारीख 13 िलु ाई, 2017;
7. सा.का.जन. 429(अ), तारीख 7 मई, 2018;
8. सा.का.जन. 777(अ), तारीख 11 अिूबर, 2019;
9. सा.का.जन. 857(अ), तारीख 18 नवंबर, 2019;
10. सा.का.जन. 186(अ), तारीख 19 माचय, 2020;
11. सा.का.जन. 395(अ), तारीख 23 िून, 2020; और
12. सा.का.जन. 590(अ), तारीख 28 जसतंबर, 2020 ।
MINISTRY OF CORPORATE AFFAIRS
NOTIFICATION
New Delhi, the 30th December, 2020
G.S.R. 806 (E).— In exercise of the powers conferred by sections 173, 177, 178 and section 186 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 (Meetings of Board and its Powers) Rules, 2014, namely:—
1. (1) These rules may be called the Companies (Meetings of Board and its Powers) Fourth Amendment Rules, 2020.
(2) They shall come into force on the date of their publication in the Official Gazette.
2. In the Companies (Meetings of Board and its Powers) Rules, 2014, in rule 4, in sub-rule (2), for the figures, letters
and word “31st December, 2020”, the figures, letters and word “30th June, 2021” shall be substituted.
[F. No. 1/32/2013-CL-V-Part]
MANOJ PANDEY, Jt. Secy.
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. 240(E), dated the 31st March, 2014 and subsequently amended as follows:-
1. G.S.R. 398 (E), dated the 12th June, 2014;
2. G.S.R. 590 (E), dated the 14th August, 2014;
3. G.S.R. 206 (E), dated the 18th March, 2015;
4. G.S.R. 971(E), dated the 14th December, 2015;
5. G.S.R. 309 (E), dated the 30th March, 2017;
6. G.S.R. 880 (E), dated the 13th July, 2017;
7. G.S.R. 429 (E), dated the 7th May, 2018;
8. G.S.R. 777 (E), dated the 11th October, 2019;
9. G.S.R. 857 (E), dated the 18th November, 2019;
10. G.S.R. 186 (E), dated the 19th March, 2020;
11. G.S.R. 395 (E), dated the 23rd June, 2020; and
12. G.S.R. 590 (E), dated the 28th September, 2020.
Uploaded by Dte. of Printing at Government of India Press, Ring Road, Mayapuri, New Delhi-110064
and Published by the Controller of Publications, Delhi-110054.