The Ministry of Corporate Affairs on 20th September 2022, has published the Companies (Corporate Social Responsibility Policy) Amendment Rules, 2022 to further amend the Companies (Corporate Social Responsibility Policy) Rules, 2014.
The amendment is brought under rule 4 which deals with Corporate Social Responsibility (CSR) Activities, in which the sub-rule 1 has been substituted as follows:
The Board shall ensure that the CSR activities are undertaken by the company itself or through:
- NGO’s like a non-profit company, charitable trust or society; or
- A company established under section 8 of the Act or a registered trust or a registered society, established by the Central Government or State Government; or
- Any entity established under an Act of Parliament or a State legislature;
Annual report on CSR activities shall be included in the Boards Report in the new format from the financial year commencing on or after 1st April 2022. A company having any amount in its Unspent Corporate Social Responsibility
Account shall constitute a CSR Committee.
