The Central Government in the exercise of the powers conferred by sub-section (1) of Section 203 of the Companies Act, 2013 (18 of 2013) read with clause (51) of Section 2 and Section 469 of the said Act, amended the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014.
In the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 after rule 8, the following rule has been inserted, namely:—
“8A. Appointment of Company Secretaries in companies not covered under rule 8.-
A company other than a company covered under rule 8 which has a paid up share capital of five crore rupees or more shall have a whole-time company secretary.”