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director can be a compliance officer

Priya Saxena (22 Points)

02 November 2018

can director become a compliance officer?

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5 Replies

rahul jha (19 Points)
Replied 08 November 2018

u means cs or other compliance officer , mainly cs is compliance officer which is included in kmp of co. not as a director

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Priya Saxena (22 Points)
Replied 09 November 2018

not a cs....
i am talking about director of a pvt. co...
can be a compliance officer in another pvt. co.

Shrikant (Associate) (350 Points)
Replied 03 December 2018

Is the position of the director in first mentioned company is executive director or non-executive director???

Priya Saxena (22 Points)
Replied 03 December 2018

he is executive director

Shrikant (Associate) (350 Points)
Replied 03 December 2018

As per section 203 of the Companies Act, 2013 (the Act), Managing Director, Whole-time Directors, CFO, CS, etc comes under the purview of Key Managerial Personnel.

As per first proviso of the section 203 (3) of the Act, a key managerial peronnel (KMP) can become a director of any company with the permission of the Board of company wher he is KMP. Hence, there is no bar on the executive director to become compliance officer of other company which is however where difficult unless both companies are under the same management.