The Companies (Appointment and Qualification of Directors) Second Amendment, Rules, 2022 were published by the Ministry of Corporate Affairs to amend the Companies (Appointment and Qualification of Directors) Rules, 2014. The amendment is made to rule 6, which deals with the requirements for a person who is eligible and willing to be appointed as an independent director, and adds the following sub-clause 4:
Any person whose name has been removed from the databank may apply for restoration of his name for a cost of one thousand rupees, and the institute will grant such restoration subject to the following conditions:
His name shall be displayed in a separate restored category for a period of one year from the date of restoration, during which time he must pass the online proficiency self-assessment test; thereafter, only if he passes the said online proficiency self-assessment test shall his name be included in the databank, and in such case, the fees paid by him at the time of initial registration shall remain valid for the period for which they were initially paid.
If he fails to pass the online proficiency self-assessment test within one year of restoration, his name will be removed from the data bank, and he will be required to request for inclusion in the databank again under sub-rule (1).