CMA Intermediate · Corporate Accounting and Auditing · National Financial Reporting Authority (NFRA)
Under section 132 of the Companies Act, 2013, each division of the NFRA through which it performs its functions shall be presided over by:
Each division of the NFRA is presided over by the Chairperson or by a full-time Member authorized by the Chairperson, as provided in section 132(3A) of the Companies Act, 2013. Neither the Secretary nor a part-time member presides over a division.
- AThe Secretary of the NFRA
- BThe Chairperson or a full-time Member authorized by the ChairpersonCorrect
- CAny part-time Member chosen by the Central Government
- DA judicial member of the Appellate Tribunal
Explanation
Section 132(3A) says each division is presided over by the Chairperson or a full-time Member authorized by the Chairperson. The Secretary is an employee under sub-section (11), and part-time members do not preside.
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