Office or Place of Profit limits u/s 314 enhanced to Rs. 2.50 lacs – MCA

Companies (Central Government’s) General Rules and Forms, 1956 amended

GOI, Ministry of Corporate Affairs, dated 07.07.2011

G.S.R. ¦¦¦ (E). In exercise of the powers conferred by clauses (a) and (b) of sub-section (1) of section 642 of the Companies Act, 1956 (1 of 1956) and all other powers hereunto enabling the Central Government hereby makes the following rules, further to amend the Companies (Central Government’s) General Rules and Forms, 1956 namely:-

1. Short title and commencement

(1) These rules may be called the Companies (Central Government’s) General Rules and Forms (Amendment) Rules, 2011.

(2) They shall come into force with effect from the date of publication in the official Gazette.

2. The existing Rule 10C shall be substituted by the following Rule 10C:

[Rule 10C. (1) The total monthly remuneration for the purpose of clause (b) of sub-section (1) of section 314, shall not be less than rupees fifty thousand.

(2) The total monthly remuneration, for the purpose of sub-section (1B) of section 314, shall not be less than rupees two lakhs and fifty thousand.]

J.N. Tikku

Joint Director

Note: The Principal Notification was published vide number G.S.R. 432 dated the 18th January, 1956 and last amended vide G.S.R. 408(E) dated the 26th May,2011.