MCA:
MCA has amended the Companies (Corporate Social Responsibility Policy) Rules, 2014 which shall come into force on the date of its publication in the Official Gazette. In Rule 4, the overall ceiling on the expenditure on building of CSR Capacity including expenditure on Administrative Overhead cannot exceed 5% of the total expenditure on CSR. The overall expenditure of 5% will now also includes the expenditure on administration of the CSR activities.
SEBI:
SEBI has amended the Clause 49 (Corporate Governance) of the Listing Agreement and shall come into force w.e.f 01-10-2014. Based on the circulars & notification on matters related to Corporate Governance clarifying certain provisions of the Companies by the Ministry of Corporate Affairs, it has been decided to make certain amendments to Clause 49. The much required circular will help all listed companies to comply with the Companies Act, 2013 and listing agreement simultaneously.
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