MCA Notification Regarding Unspent Corporate Social Responsibility Account

On 20th September 2022, the MINISTRY OF CORPORATE AFFAIRS (MCA), through Notification – CG-DL-E-21092022-238956, notified that the central government hereby further amend the Companies (Corporate Social Responsibility Policy) Rules, 2014. The rule may be called the Companies (Corporate Social Responsibility Policy) Amendment Rules, 2022, and it shall come into force on 20th September.

The rule 3 of the said Rules further states that a company having any amount in its unspent Corporate Social Responsibility account has to constitute a committee called the CSR Committee and has to comply with all the provisions mentioned under Sub – Section (2) to (6) of Section 135.