Amendment in Companies (Central Government’s) General Rules and Forms (Third Amendment) Rules, 2003
MINISTRY OF FINANCE
(DEPARTMENT OF COMPANY AFFAIRS)
NOTIFICATION
New Delhi, the 24th July, 2003
G.S.R. 580(E) .- In exercise of the powers conferred by sub-section (1) of section 642 of the Companies Act, 1956 (1 of 1956), the Central Government hereby makes the following rules further to amend the Companies (Central Government’s) General Rules and Forms, 1956, namely:-
1. (1) These rules may be called the Companies (Central Government’s) General Rules and Forms (Third Amendment) Rules, 2003.
(2) They shall come into force on the date of their publication in the Official Gazette.
2. In Companies (Central Government’s) General Rules and Forms, 1956, for rule 10-B, the following shall be substituted, namely :-
“10-B Section 310 – For the purposes of the first proviso to section 310, the amount of remuneration by way of fee for each meeting of the Board of directors or a committee thereof, shall be as under:
(a) Companies with a paid-up share capital and free reserves of Rs.10 crore and above or turnover of Rs.50 crore and above
Sitting fees not to exceed the sum of twenty thousand rupees.
(b) Other companies – Sitting fees not to exceed the sum of ten thousand rupees.
(F. No. 2/12/2003-CL.V)
RAJIV MEHRISHI
Joint Secretary
