The Companies (Creation and Maintenance of databank of Independent Directors) Rules, 2019.

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....rule 2 and 5, shall come into force with effect from the 1st day of December, 2019. (3) The provisions of rule 2 and 5 shall come into force on the date of publication of this notification in the Official Gazette. 2. Definitions.- (1) In these rules, unless the context otherwise requires, - (a) "Act" means the Companies Act, 2013 (18 of 2013); (b) "institute" means the 'Indian Institute of Corporate Affairs' notified under sub-section (1) of section 150 of the Companies Act, 2013. (2) Words and expressions used and not defined in these rules but defined in the Act shall have the same meanings as respectively assigned to them in the Act. 3. Creation and maintenance of data bank.- (1) The institute shall create a....

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....Managing Director or Independent Director or Nominee Director; and (iv) duration - with dates. (3) The information available in the data bank shall be provided only to companies required to appoint independent director after paying a reasonable fees to the institute. (4) A person whose name is included in the data bank, may restrict his personal information to the institute, to be disclosed in the data bank. (5) Any individual whose name appears in the data bank, shall make changes in his particulars within thirty days of such change through web based framework made available by the institute for this purpose. (6) A disclaimer shall be conspicuously displayed on the website hosting the data bank that a company must carr....

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.... by the institute in respect of clauses (a), (b) and (c). (2) The institute shall daily, share with the Central Government, a cumulative list of all individuals - (a) whose names have been included in the data bank along with the date of inclusion and their Income Tax PAN or Passport number in case of foreign director (not required to have Income-Tax PAN); (b) whose applications for inclusion in the data bank have been rejected along with grounds and the dates of such rejection; and (c) whose names have been removed from the data bank along with grounds and the dates of such removal. 5. Panel.- (1) There shall be a panel of not more than ten members nominated by the Central Government, for the purpose of app....