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[Cites 0, Cited by 0] [Section 19C] [Entire Act]

Union of India - Subsection

Section 19C(1) in THE FINANCE ACT, 2021

(1)The Board shall constitute an Audit Committee of the Board, consisting of a minimum of three directors with independent directors forming a majority when the number of independent directors in office is sufficient to constitute such proportion of the membership of the Audit Committee:Provided that a majority of directors on the Audit Committee, including its chairperson, shall be individuals with ability to read and understand financial statements and at least one individual shall have accounting or related financial management expertise.