Petroleum and Natural Gas Regulatory Board (Meetings of the Board) Amendment Regulations, 2020

May 06, 2020 | by Avantis RegTech Legal Research Team


Industry Specific Compliance

The Petroleum and Natural Gas Regulatory Board (PNGRB) on April 28, 2020, issues the Petroleum and Natural Gas Regulatory Board (Meetings of the Board) Amendment Regulations, 2020 to further amend the Petroleum and Natural Gas Regulatory Board (Meetings of the Board) Regulations, 2007.

The followings are the amendments made under the PNGRB (Meetings of the Board) Regulations, 2007:-

 Regulation 7 related to “Quorum required and voting” has been substituted, stating that three members of the Board shall constitute the quorum for transaction of business at a meeting of the Board. All questions which come before any meeting of the Board shall be decided by a majority vote of the Members present and voting and in the event of any equality of votes.

 Regulation 8 related to “Leave of Absence” has been substituted, stating that the Board may decide to grant leave of absence to a Member not present in the meeting and such decision shall be recorded in the minutes of the meeting.

 A new Regulation 13 related to “Interpretation” has been inserted, stating that if any question arises as to the interpretation of these regulations, it shall be decided by the Board and guidance may be taken by the Board from ‘Secretarial Standard-1 (SS-1) on Meetings of the Board of Directors’ issued by the Institute of Company Secretaries of India.

This shall come into force on May 04, 2020.

[Notification No. PNGRB/Admin/11-Misc(10)/2020]


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