CSR Policy Amendment Rules 2022
Author: CS Pradeep Kumar Parakh | Date: 10-Oct-2022. The CSR Policy Amendment Rules, 2022 (“the Amendment Rules, 2022”) were notified by the MCA vide Notification No. G.S.R. 715(E) dated 20 September 2022 amending the the CSR Policy Rules, 2014 (“the Original Rules”) with effect from 20 September 2022. The key changes made to the respective Rules, effects thereof, are summarized below: Sr. No. Rule No. of the Original Rules Mode of Amendment Topic of Amendment Description of Amendment Amendment relevant to 1. Rule 3(1) Insertion of proviso CSR Committee A Company shall continue to have its CSR Committee, till any amount remain unspent for Ongoing Project and are transferred to a separate Bank Account called as “The Unspent Corporate Social Responsibility Account” which are spent by the Company as per its obligation towards CSR within a period of three financial years