The Companies (Corporate Social Responsibility Policy) Amendment Rules, 2015
The Ministry of Corporate Affairs vide Notification F. No. 1/18/2013-CL- V-Part dated January 19, 2015 has brought out amendments relating to Corporate Social Responsibility (CSR) by widening the list of entities through which companies can undertake CSR activities.
Accordingly, companies can now carry on CSR activities through Section 8 company not only which is established in association with its holding or subsidiary or associate company but also with any other company and its group companies. However, participation of the company in establishment of such Section 8 company is essential, which was not the position earlier. Companies may also conduct its CSR activities through unrelated Section 8 companies, provided such company shall have an established track record of 3 years.
Related Notification is as follows :-
GOVERNMENT OF INDIA
MINISTRY OF CORPORATE AFFAIRS
NOTIFICATION
New Delhi, the 19th January, 2015
G.S.R. 43(E) – In exercise of the powers conferred under section 135 and 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 (Corporate Social Responsibility Policy) Rules, 2014, namely:-
1. (1) These rules may be called the Companies(Corporate Social Responsibility Policy) Amendment Rules, 2015.
(2) They shall come into force on the date of their publication in the Official Gazette.
2. In the Companies (Corporate Social Responsibility Policy) Rules, 2014, in rule 4, in sub-rule (2),-
(i) for the words “established by the company or its holding or subsidiary or associate company under section 8 of the Act or otherwise”, the words “established under section 8 of the Act by the company either singly or alongwith its holding or subsidiary or associate company or alongwith any other company or holding or subsidiary or associate company of such other company, or otherwise” shall be substituted;
(ii) in the proviso, in clause (i), for the words “not established by the company or its holding or subsidiary or associate company, it”, the words not established by the company, either singly or alongwith its holding or subsidiary or associate company, or alongwith any other company or holding or subsidiary or associate company of such other company” shall be substituted.
[F. No. 1/18/2013-CL- V-Part]
AMARDEEP SINGH BHATIA
Joint Secretary to the Government of India
