The Ministry of Ports, Shipping and Waterways has notified the Major Port Authorities (Corporate Social Responsibility) Rules, 2021 vide notification dated November 22, 2021.
Key highlights:
- The Rules shall apply to the major Ports of Chennai, Cochin, Deendayal (Kandla), Jawaharlal Nehru (Nhava Sheva), Kolkata, Mormugao, Mumbai, New Mangalore, Paradip, V.O. Chidambaranar (Tuticorin) and Visakhapatnam.
- The Board of each Major Port Authority shall constitute a Corporate Social Responsibility Committee in such manner and consisting of such persons as specified in the said guidelines.
- The Board of the Major Port Authority which does not fulfill or ceases to fulfill the eligibility criteria set forth in the Corporate Social Responsibility guidelines shall not be required to comply with these rules, till such time that the criteria are met.
- The Board of the Major Port Authority which does not fulfill the criteria of the Corporate Social Responsibility guidelines may be required to adhere to such other requirements that are set forth within the Corporate Social Responsibility guidelines.
- Every member of the Corporate Social Responsibility Committee shall disclose the nature of his concern or interest at the meeting of the Corporate Social Responsibility committee, in which such Corporate Social Responsibility project, program or activity is discussed or considered and shall also not participate in such meeting when the agenda relating to such project, program or activity is discussed.
- Any member who is not so concerned or interested at the time of recommending such Corporate Social Responsibility project, program or activity in the Corporate Social Responsibility Plan, he shall, if he becomes concerned or interested after the Corporate Social Responsibility project, program or activity is recommended, disclose his concern or interest forthwith when he becomes concerned or interested or at the first meeting of the Corporate Social Responsibility committee held after he becomes so concerned or interested.
- Further, every board of each Major Port Authority that fulfills the eligibility criteria given in the Corporate Social Responsibility guidelines shall, at the beginning of each financial year, create a Corporate Social Responsibility budget and allocate funds to the Corporate Social Responsibility projects, programs, or activities in such manner and to such extent as may be specified in the Corporate Social Responsibility guidelines.