MINISTRY OF CORPORATE AFFAIRS
New Delhi, the 13th September, 2007
G.S.R. 588(E).- In exercise of the powers conferred by Sub-section (2A) of Section 10E read with clause (a) of Sub-section (1) of Section 642 of the Companies Act, 1956 (1 of 1956), the Central Government hereby makes the Following rules to amend the Company Law Board Qualifications, Experience and other Conditions of Service of Members) Rules, 1993, namely:-
1. These rules may be called the Company Law Board (Qualifications, Experience and other Conditions of Service Member) Amendment Rules, 2007.
2. They shall come into force on the date of their publication in the official Gazette.
3. In the Company Law Board (Qualifications, Experience and other Conditions of Service of Member) Rules, 1993, for rule 8, the following should be substituted namely:-
“8. Term of office of Chairman and Members:- Except as provided in rules 6 or 7, the chairman shall hold office till he attains the age of sixty seven years, the Vice-Chairman shall hold office till he attains the age of sixty five years and any other Member shall hold office till he attains the age of sixty two years.”
JITESH KHOSLA, Jt Secy.
Foot Note :- Principal rules were notified vide G.S.R. 388(E) dated April 28, 1993 and subsequently amended vide G.S.R 503(E) dated June 3, 1994, G.S.R. 253 (E) dated May 28, 1996, G.S.R. 532(E) dated November 20, 1996, G.S.R. 49(E) dated January 31, 1997, G.S.R. 370 (E) dated June 30, G.S.R. 203(E) dated March 12, 1999, G.S.R. 680(E) dated September 30, 1999, G.S.R. 683(E) dated October 5, 1999.