The Central Government makes Companies (Management and Administration) Second Amendment Rules, 2014 with a view to amend Companies (Management and Administration) Rules, 2014. The said Rules will come into force on the date of their publication in the Official Gazette. In the Companies (Management and Administration) Rules, 2014,—
- In Rule 9, after sub-rule (3), the proviso mentioned below inserted — “Provided that nothing contained in this rule shall apply in relation to a trust which is created, to set up a Mutual Fund or Venture Capital Fund or such other fund as may be approved by the Securities and Exchange Board of India”.
- In rule 13,- the words “either value or volume of the shares” and the explanation omitted;
- In rule 23, in sub-rule (1), for the words “not less than five lakh rupees”, the words “not more than five lakh rupees” substituted;
- In rule 27, in sub-rule (1); and in the Explanation, for the word “shall”, the word “may” substituted.
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