COMPANIES (MEETINGS OF BOARD AND ITS POWERS) RULES, 2014

Ministry of Corporate Affairs vide notification dated 13^th July, 2017 amended Companies (Meetings of Board and its Powers) Rules, 2014. The amended rules may be called as   Companies (Meetings of Board and its Powers) Second Amendment Rules, 2017

Rule	Earlier	Amended
Rule 3 (3)(e)	The director, who desire, to participate may intimate his intention of participation through the electronic mode at the beginning of the calendar year and such declaration shall be valid for one calendar year	Any director who intends to participate in the meeting through electronic mode may intimate about such participation at the beginning of the calendar year and such declaration shall be valid for one year: Provided that such declaration shall not debar him from participation in the meeting in person in which case he shall intimate the company sufficiently in advance of his intention to participate in person
Rule 3(11)(a)	At the end of discussion on each agenda item, the Chairperson of the meeting shall announce the summary of the decision taken on such item along with names of the directors, if any, who dissented from the decision taken by majority	At the end of discussion on each agenda item, the Chairperson of the meeting shall announce the summary of the decision taken on such item along with names of the directors, if any, who dissented from the decision taken by majority and the draft minutes so recorded shall be preserved by the company till the confirmation of the draft minutes in accordance with sub-rule (12)
Rule 6	The Board of Directors of every listed companies and the following classes of companies shall constitute an Audit Committee and a Nomination and Remuneration Committee of the Board- (i) all public companies with a paid up capital of ten crore rupees or more (ii) all public companies having turnover of one hundred crore rupees or more (iii) all public companies having in aggregate, outstanding loans or borrowings or debentures or deposits, exceeding fifty crore rupees or more	Rule 6  and the provisos has been substituted by the following: The Board of directors of every listed company and a company covered under rule 4 of the Companies (Appointment and Qualification of Directors) Rules, 2014 shall constitute an ‘Audit Committee’ and a ‘Nomination and Remuneration Committee of the Board’.