Companies (Amendment) Bill 2016 permits pecuniary interest in companies for independent directors

Q.  Companies Amendment Bill 2016 allows for pecuniary interest in companies for which company personnel?
- Published on 18 Apr 16

a. CEO
b. MD
c. Independent Director
d. None of the above

ANSWER: Independent Director
 
Companies (Amendment) Bill 2016 unlike existing law allows for pecuniary interest in companies for independent directors. Proposed law allows directors to have their own transactions with companies where they are independent directors up to 10 percent of their total income.

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