Date: 2014-02-12Category: Extra OrdinaryState: Union GovernmentCountry: India
The Central Govt. hereby makes the following rules further to amend the Food Corporations Rules, 1965, These rules may be called the Food Corporations (Amendment) Rules, 2014.
Executive Summary:
This notification issued by the Ministry of Consumer Affairs, Food and Public Distribution amends the Food Corporations Rules, 1965. These amendments, called the Food Corporations Amendment Rules, 2014, concern the fees paid to directors for attending meetings. The rules take effect from the date of their publication in the Official Gazette (February 12, 2014).
Key Points / Main Content:
Amendment to Director's Fees:
* Rule 6 of the Food Corporations Rules, 1965 is substituted concerning fees for directors.
* Directors, excluding the Chairman, Managing Director, and full-time government officers, will receive fees for attending meetings.
* Fees for attending meetings are specified as follows:
* Board of Directors meeting: Rs. 4,000 per meeting.
* Executive Committee meeting: Rs. 3,000 per meeting.
* Other Committee meetings (constituted by the Board): Rs. 3,000 per meeting.
Impact Analysis:
Directors of the Food Corporation (excluding Chairman, Managing Director, and full-time government officers):
* Impact: The amendment revises the fees they receive for attending various meetings of the Corporation and its committees.
* Action Required: Be aware of the revised fee structure for attending meetings.
Food Corporation:
* Impact: The corporation is responsible for implementing the new fee structure for its directors.
* Action Required: Update payment procedures to reflect the amended rules regarding director's fees.
Key Entities Referenced
Ministry of Consumer Affairs, Food and Public Distribution: The Indian government ministry responsible for consumer protection, food security, and public distribution.
Department of Food and Public Distribution: A department within the Ministry of Consumer Affairs, Food and Public Distribution.
New Delhi: The location where the notification was issued.
Food Corporations Act, 1964: The central act being amended by this notification.
Central Government: The governing body issuing the notification.
Food Corporations Rules, 1965: The rules which the notification amends.
Food Corporations Amendment Rules, 2014: The short title of the amendment rules being introduced by this notification.
U. K. S. CHAUHAN: Joint Secretary who issued the notification.