Updates under MCA as on 23rd Oct 2019.

These rules may be called as Companies (Account ) Amendment Rules 2019 These shall come into effect from the 1st day of December 2019. In Companies (Account) Rules 2014 in rule 8 in sub rule (5) after clause (iii) the following clause shall be inserted (iiia) a statement regarding opinion of the Board with regard to integrity,expertise, and experience (including the proficiency) of the independent director appointed during the year. Explanation- For the purposes of this clause the expression 'proficiency' means the proficiency of the independent director as ascertain from the online proficiency self assessment test conducted by the institute notified under sub- section(1) of 150 .