New Delhi, Oct. 22 (PTI): The government on Tuesday said it will introduce an online proficiency self-assessment test for independent directors.
The test will be conducted by Indian Institute of Corporate Affairs (IICA) from December 1, the Ministry of Corporate Affairs said in a notification on Tuesday.
The requirement will not be applicable for certain categories of individuals, including those who have served for at least 10 years as director or key managerial personnel in a company.
Individuals, other than those exempted, have to pass the test within one year from the date of inclusion of their names in the independent directors' data bank maintained by the IICA, as per the notification.
In case of failure to pass the test, the name of the individual concerned will be removed from the data bank.
The notification would come into force from December 1, 2019.
There will be no limit on the number of attempts for an individual to clear the test.
