{"id":3239,"date":"2016-07-04T11:34:03","date_gmt":"2016-07-04T06:04:03","guid":{"rendered":"https:\/\/taxclick.org\/?p=3239"},"modified":"2016-07-04T11:48:13","modified_gmt":"2016-07-04T06:18:13","slug":"companies-appointment-remuneration-managerial-personnel-amendment-rules-2016","status":"publish","type":"post","link":"https:\/\/taxclick.org\/type\/company-law\/companies-appointment-remuneration-managerial-personnel-amendment-rules-2016\/","title":{"rendered":"Companies (Appointment and Remuneration of Managerial Personnel) Amendment Rules, 2016"},"content":{"rendered":"<p style=\"text-align: justify;\">[To be published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-Section (i)]<\/p>\n<p style=\"text-align: center;\">Government of India<\/p>\n<p style=\"text-align: center;\">Ministry of Corporate Affairs<\/p>\n<p style=\"text-align: center;\"><strong>NOTIFICATION <\/strong><\/p>\n<p style=\"text-align: right;\"><strong>New Delhi, 30<sup>th<\/sup> June, 2016 <\/strong><\/p>\n<p style=\"text-align: justify;\">G.S.R. .\u2014In exercise of the powers conferred by sub-sections (1) and (2) of 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 Remuneration of Managerial Personnel) Rules, 2014, namely:\u2014<\/p>\n<p style=\"text-align: justify;\">1. (1) These rules may be called the Companies (Appointment and Remuneration of Managerial Personnel) Amendment Rules, 2016.<\/p>\n<p style=\"text-align: justify;\">(2) They shall come into force from the date of their publication in the Official Gazette.<\/p>\n<p style=\"text-align: justify;\">2. In the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, (hereinafter referred to as the principal rules),-<\/p>\n<p style=\"text-align: justify;\">(i) in rule 3, the expression &#8220;Chief Executive Officer (CEO), Company Secretary and Chief Financial Officer (CFO)&#8221; shall be omitted.<\/p>\n<p style=\"text-align: justify;\">3. in rule 5 of the principal rules,-<\/p>\n<p style=\"text-align: justify;\">(a) in sub-rule (1), &#8220;clauses (v), (vi), (vii) and (ix) to (xi)&#8221; shall be omitted.<\/p>\n<p style=\"text-align: justify;\">(b) in sub-rule (2),-<\/p>\n<p style=\"text-align: justify;\">(a) for the words &#8221; the name of every employee of the company, who-&#8220;, the words &#8221; the names of the top ten employees in terms of remuneration drawn and the name of every employee, who-&#8221; shall be substituted;<\/p>\n<p style=\"text-align: justify;\">(b) in sub-clause (i) for the words &#8220;sixty lakh rupees&#8221;, the words &#8220;one crore and two lakh rupees&#8221; shall be substituted;<\/p>\n<p style=\"text-align: justify;\">(c) in sub-clause (ii) for the words &#8220;five lakh rupees per month&#8221;, the words &#8221; eight lakh and fifty thousand rupees per month&#8221; shall be substituted;<\/p>\n<p style=\"text-align: justify;\">4. For Form MR-1 of the principal rules, the following form shall be substituted, namely.-<\/p>\n<p style=\"text-align: justify;\"><a href=\"https:\/\/taxclick.org\/wp-content\/uploads\/2016\/07\/AmendmentRules_01072016.pdf\" target=\"_blank\">Downlad Complete Rule<\/a><\/p>\n<p style=\"text-align: justify;\">\n","protected":false},"excerpt":{"rendered":"<p>[To be published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-Section (i)] Government of India Ministry of Corporate Affairs NOTIFICATION New Delhi, 30th June, 2016 G.S.R. .\u2014In exercise of the powers conferred by sub-sections (1) and (2) of section 469 of the Companies Act, 2013 (18 of 2013), the Central Government hereby &#8230; <a title=\"Companies (Appointment and Remuneration of Managerial Personnel) Amendment Rules, 2016\" class=\"read-more\" href=\"https:\/\/taxclick.org\/type\/company-law\/companies-appointment-remuneration-managerial-personnel-amendment-rules-2016\/\" aria-label=\"More on Companies (Appointment and Remuneration of Managerial Personnel) Amendment Rules, 2016\">Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_uag_custom_page_level_css":"","_mi_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[6],"tags":[413],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Companies (Appointment and Remuneration of Managerial Personnel) Amendment Rules, 2016 - All About Finance<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/taxclick.org\/type\/company-law\/companies-appointment-remuneration-managerial-personnel-amendment-rules-2016\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Companies (Appointment and Remuneration of Managerial Personnel) Amendment Rules, 2016 - All About Finance\" \/>\n<meta property=\"og:description\" content=\"[To be published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-Section (i)] Government of India Ministry of Corporate Affairs NOTIFICATION New Delhi, 30th June, 2016 G.S.R. .\u2014In exercise of the powers conferred by sub-sections (1) and (2) of section 469 of the Companies Act, 2013 (18 of 2013), the Central Government hereby ... 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