Medical law topic-central advisary bond on disability

INTRODUCTION
Published vide Notification No. G.S.R. 591 dated 15th June, 2017
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Ministry of Social Justice and Empowerment

An advisory board is a body that provides non-binding strategic advice to the management of a corporation, organization, or foundation.
Many new or small businesses choose e to have advisory boards in order to benefit from the knowledge of others, without the expense or formality of the board of directors.

GOALS
developing an understanding of the business, market and industry trends
provide “wise counsel” on issues raised by owners/directors or management
provide unbiased insights and ideas from a third point-of-view (not involved in the operation of the business)

FUNCTION
What is the function of an advisory board?
The function of an advisory board is to offer assistance to enterprises with anything from marketing to managing human resources to influencing the direction of regulators.

STRUCTURE
An advisory board is a body that provides non-binding strategic advice to the management of a corporation, organization, or foundation.
An advisory board is a body that provides non-binding strategic advice to the management of a corporation, organization, or foundation.

ARTICALS
Distance control
Accountability
Preparation for board of directors
Formal advice
Less pressure on executives

Drawbacks of an advisory board
An advisory board deals with a more narrow range of issues and meet less often than board of directors. There is less commitment for advisory board members compared to directors in the board

Reasons for creating an advisory board
The main reason to create an advisory board is to seek expertise outside of the company.
An advisory board strengthens the existing board, but does not interfere with authorities of the existing board