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CS Professional · Environmental, Social and Governance (ESG) - Principles and Practice · Board Disclosures and Website Disclosures

Meridian Pharma Ltd, a listed company, has placed its CSR policy on its website. The Board wants to shorten its Board's report. What is sufficient compliance under the second proviso to Section 134(3)?

It is sufficient to state in brief the salient features of the policy and any change in it, and to give the web address where the complete policy is available. The proviso to Section 134(3) permits this for the clause (e) and (o) policies.

  1. AOnly stating that a CSR policy exists
  2. BSpecifying in brief the salient features of the policy and any change in it, and indicating the web address of the complete policyCorrect
  3. CReproducing the full policy in the Board's report in every year
  4. DGiving the web address alone without salient features

Explanation

The second proviso says that where the policy under clause (e) or (o) is on the website, it is sufficient if salient features and any change are specified in brief and the web address is indicated. Web address alone or mere mention omits the salient features.

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