The weekly messenger | Edition 35.21
This newsletter is a weekly compilation of accounting, auditing and related regulatory news from different accounting and regulatory bodies in India and overseas
Regulatory news
FAQ’s - LODR amendments dated 3 August 2021 ‒ 22 December 2021
The Bombay Stock Exchange has issued a Frequently Asked Question (FAQ) w.r.t. newly inserted Regulation 17 (1C) of the Securities and Exchange Board of India (SEBI) (Listing Obligation and Disclosure Requirements (LODR)), Regulations 2015, which provides clarification on the following matter:
FAQ: As per newly inserted Regulation 17(1C), the listed entity is required to get the approval of shareholders for appointment of a person on the Board of Directors at the next general meeting or within a time period of 3 months from the date of appointment, whichever is earlier. Whether the said provision would be applicable to directors appointed before the effective date of the amendment i.e. 1 January 2022?
Response: The existing provisions shall be applicable for the directors appointed on or before 31 December 2021. The amended provisions shall be applicable for the appointment on or after 1 January 2022.
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Commencement of section 1 of the Employees’ State Insurance Act, 1948 ‒ 23 December 2021
The Central Government has appointed 1 January 2022, as the date from which the provisions of the following sections of Employees’ State Insurance Act, 1948 shall come into force in various districts of Assam:
- sections 38, 39, 40, 41, 42, 43 and sections 45A to 45H of Chapter IV;
- sections 46 to 73 of Chapter V; and
- sections 74, 75, sub-sections (2) to (4) of sections 76, 80, 82 and 83 of Chapter VI.
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