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Introducing the βIn Favour Ofβ filter in Case Laws.
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<h1>New Rule Allows Directors to Restore Names in Databank by Fee, Must Pass Proficiency Test in One Year.</h1> The Companies (Appointment and Qualification of Directors) Second Amendment, Rules, 2022, effective from June 10, 2022, modifies the 2014 rules under the Companies Act, 2013. It introduces a provision allowing individuals whose names have been removed from the directors' databank to apply for restoration by paying a fee. Restored individuals must pass an online proficiency self-assessment test within one year to remain in the databank. If they fail, their names will be removed, and they must reapply for inclusion. The amendment aims to ensure directors meet proficiency standards while providing a mechanism for reinstatement.