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CS Professional · Compliance Management, Audit and Due Diligence · Compliance Framework

Kaveri Engineering Ltd has a risk management policy and a CSR policy, both hosted on its website. The Board wants to avoid reproducing the full CSR policy in the Board's report. What does section 134 require for the policy on CSR initiatives to be sufficient compliance?

Where the CSR policy is on the company's website, the Board's report must briefly state the salient features of the policy and any change in it, and indicate the web address where the complete policy is available. The web address alone is not enough.

  1. ANothing, because website hosting removes any reporting duty from the Board's report
  2. BThe salient features of the policy and any change in brief, plus the web address where the full policy is availableCorrect
  3. COnly the web address, without any summary of the policy
  4. DThe complete text of the policy annexed to the Board's report

Explanation

The second proviso to section 134(3) says that where the clause (o) policy is on the website, it is sufficient if the salient features and any change are stated in brief and the web address is indicated. Giving only the web address is incomplete, and full annexure is not necessary.

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