In an unprecedented move, not seen elsewhere in our globe, icsi set up the secretarial standards board to formulate and pronounce standards on secretarial practices. I continue my study of these secretarial standards. Ss provide a framework to bring uniformity, integrity and standardization in the secretarial practices followed by a corporate. Secretary series, gs0318 ts64 june 1982, ts34 january 1979 titles the title secretary applies to all nonsupervisory positions in this occupation the title supervisory secretary applies to positions in this series meeting the definition for. Secretarial standard companies act integrated ready. However, if, due to subsequent changes in the act, a particular standard or any part thereof becomes inconsistent with the act, the provisions of the act shall prevail. In this scenario, we have given the list of things to be taken note while conducting the boardcommittee meetings other than the mandatory committees required to be formed under the companies act, 20 in line with the secretarial standards 1, which is coming in to practice with effect from 1 st july, 2015. The secretarial standards do not form parallel conflicting regulatory framework relating to holding of board meeting general meeting, but they ensure smooth compliance of extant regulatory framework. Facilitieshelp deskfaq secretarial standard sections. Scope has been amended to exempt section 8 companies in addition to. The following is the text of the secretarial standard8 ss 8 issued by the council of the institute of company secretaries of india, on affixing of common seal. Secretarial standard on affixing of common seal ss9.
Are secretarial standards other than ss1 and ss2 binding on companies. Guidance note on revised secretarial standards ss 1. It also establishes standards and guidelines for document. Scope of secretarial standards the secretarial standards do not seek to substitute or supplant any existing laws or the rules and regulations framed thereunder but, in fact, seek to supplement such laws, rules and regulations.
The institute of company secretaries of india icsi is the first professional institution in the world to constitute a secretarial standards board ssb for developing secretarial standards. This presentation is based on our internal research. However, companies must adhere to secretarial standards in order to raise the corporate governance standards. Adherence by a company to this secretarial standard is mandatory, as per the provisions of the companies act. Mca has notified the secretarial standard 1 meeting of the board of directors vide letterno. Revised ss1ss2 applicable from 1st october, 2017 in respect of boardsgeneral meetings.
It presents the rules made under the law and the secretarial standards specified by the institute of company secretaries of india as approved by the central government, in the most studentfriendly way. The institute of company secretaries of india icsi vide its earlier notification had brought an exposure draft on secretarial standards 3 ss3 standards on dividend which was put forward for public comments. Thereafter, the company and its officers including the exdirectors in default were. Employees in this job coordinate office activities and perform secretarial assignments for professional or. Compliance of secretarial standards whether mandatory. Secretarial standards approved by the central government cakart. Icsi issues secretarial standards 3 on dividend effective. Disclosure 25 effective date 25 annexure a 26 illustrative list of items of business which shall not. Secretarial standard on passing of resolution by circulation. Ss with respect to general and board meetings specified by the institute of company secretaries of india. Xi commerce secretarial practice written as per the revised syllabus prescribed by the maharashtra state board of secondary and higher secondary education, pune. Furthermore, there is an increased awareness of the importance of the implementation of service standards in the public service, but the challenge still remains as to how best to develop them. Secretarial standards are the set of principles or guidelines.
Is the observance of secretarial standards issued by icsi mandatory. Meetings of the board of directors ssl and general meetings ss2 revised by the icsi and approved by the central government secretarial standards on meetings of the board of directors ss1 and general meetings ss2 were approved by the central government under section 11810 of the companies act, 20 on 10 th april, 2015 and were. Secretarial standard on the meetings of board of directors. We have summarized these action points to get prepared for implementation of these standards without hassles. Guide to document preparation executive secretariat. Secretarial standard8 ss8 secretarial standard on affixing of common seal. In most cases, the clerical and assistance tasks represent the primary purpose of the job. The book company law and practice explains the latest provisions of the companies act, 20. Aug 25, 2017 section 2051 confers power to the institute to issue secretarial standards. Here is summary on applicability of secretarial standards to private companies.
Section 118 under the aegis of which the secretarial standards have been made. Earlier, the companies act, 1956 provided that the secretarial standards were recommendatory in nature but the enactment of the companies act, 20 made implementation of the secretarial standards in a company. Applicability of secretarial standards to private companies. Icsi releases revised secretarial standards 1 and 2. Secretarial standard 1 revised secretarial standard 1 a director shall be treated as interested in a contract or arrangement entered into or proposed to be entered into by the company. The secretarial standard on meetings of the board of directors ss1, formulated by the secretarial standards board of the institute of company secretaries of india icsi and issued by the council of the icsi, has been approved by the central government.
Scope and functions of the secretarial standards board. In the said respect, icsi has issued a secretarial standards on board meetings ss1. In my earlier post here i have raised some issues related to issuance of secretarial standards. Secured computer system means computer hardware, software, and procedure that a are reasonably secure from unauthorized access and misuse. Secretarial standard 2 introduction the ministry of corporate affairs notified secretarial standard 2 ss2 on april 23, 2015 which came into effect from july 1, 2015. Secretarial standard on meetings of the board of directors the following is the text of the secretarial standard1 s s1 on meetings of the board of directors, issued by the council of the institute of company secretaries of india and approved by the central government. In accordance with the requirement of the section 11810 of the companies act, 20. Attendance in meetings and their recording in the minutes. Meetings of board of directors effective from 1st october,2017 ss1 meeting of board of directors. You may bookmark this page for quick accessibility.
In this secretarial standard, the standard portions have been set in bold type. Oecd secretarygeneral tax report to g20 finance ministers and. In this post, i will discuss secretarial standards related to maintenance of minutes under ss 1 and ss 2. There are some alterations made in the revised ss1 in comparison. Checklist for calling a board meeting as per secretarial. No, there is a specific exemption to section 8 and one person company from complying with the secretarial standards. D21, block ep, sector v, salt lake city, kolkata700091 ph 93 400833859831402256 email. Revised secretarial standards key amendments vinod. Secretarial auditor means a company secretary in practice appointed in pursuance of the act to conduct the secretarial audit of the company. Secretarial standards on passing resolutions by circulation. Secretarial standards tool for good corporate governance. It is notified that neither the presenter nor organization to which he belongs nor any other person related to him shall be responsible for any damage or loss of any action taken based on this presentation.
Aug 04, 2015 in my earlier post here i have raised some issues related to issuance of secretarial standards. In post technical fault in issuance of secretarial standards posted long ago, i humbly made certain observations on notifications of two secretarial standards which was approved by central government and specified by the institute of company secretaries of india icsi. The following is the text of the secretarial standard8 ss8 issued by the council of the institute of company secretaries of india, on affixing of common seal. Aug 30, 2017 the secretarial standards once formulated are then approved by the central government through the ministry of corporate affairs. Secretarial standard 1 meeting of the board of directors. Icsi issued 10 secretarial standards till date out of which secretarial standards on meeting of the board of directors ss1 and general meetings ss2 were approved by the central government under section 11810 of the companies act, 20 on 1. The objective of ss2 is to ensure good corporate governance and better accountability towards shareholders in all general meetings. Reviews and evaluates applications, petitions, contracts, or other documents to determine if prescribed. The secretarial standards have been notified by the icsi in the official gazette and are effective from july 1, 2015. Accordingly, the secretarial standards on meetings of the board of directors ss1 and secretarial standards on general meetings ss2, as approved by the central government, have been issued by the icsi for observance by all companies except exempted class of companies.
Accordingly, such other secretarial standards are not applicable presently. The institute of company secretaries of india icsi on 15th april, 2020 has issued clarificationguidance on applicability of secretarial standards on meetings of the board of directors ss1 and general meetings ss2 due to covid19 outbreak and lockdown situation prevailing in the country, various provisions of the compani. Aug 30, 2017 revised secretarial standards on meetings of the board of directors ss1 and general meetings ss2 revised by the institute of company secretaries of india icsi and approved by the central government secretarial standards on meetings of the board of directors ss1 and general meetings ss2 were approved by the central government under section 11810 of the. Secretarial standard on affixing of common seal the following is the text of the secretarial standard 8 ss 8 issued by the council of the institute of company secretaries of india, on affixing of common seal. Adherence to this secretarial standard is recommendatory. Nov 17, 2009 please find attach herewith the links for all 9 secretarial standard issued by the institute of company secretaries of india icsi for your ready reference. Secretarial standard on dividend the following is the text of the secretarial standard 3 ss3 on dividend, issued by the council of the institute of company secretaries of india. Grade level guide for clerical and assistance work ts91 june 1989 tasks related to processing actions, records, data, or other information. Evaluation of service standards in the public service. Secretarial standards that are issued will be in conformity with the provisions of the applicable laws. India is the pioneer in having secretarial standards as no other country in the world has yet adopted the secretarial standards. Secretarial standards aim at integrating, harmonizing and standardizing diverse secretarial and governance practices being followed by companies. Checklist for calling a board meeting as per secretarial standard 1. In this post, i will discuss secretarial standards related to passing of resolution by circulation under ss 1.
Secretarial standards are applicable on companies from 1st july, 2015. Adherence by a company to this secretarial standard is mandatory, as. It is a credit to the foresight of the professional leadership of icsi institute that they thought of setting up secretarial standards, as far back as in the year 2000. Secretarial standards ss are a set of standards prescribed by the council of the institute of company secretaries of india icsi for holding board meetings and general meetings by companies. Exhaustive coverage of syllabus in question answer format. The following is the text of the secretarial standard1 ss1 on meetings of the board of directors, issued by the council of the institute of company secretaries of india and approved by the central government. Aug 19, 2017 now, the secretarial standards have been revised by the icsi and approval of the central government, as required, under section 11810 of the companies act, 20 has been obtained for the revised ssl and ss2 vide ministry of corporate affairs letter no. Secretarial standard on transmission of shares and debentures. Secretarial standard on meetings of the board of directors the following is the text of the secretarial standard 1 s s1 on meetings of the board of directors, issued by the council of the institute of company secretaries of india and approved by the central government. Every company shall observe secretarial standards with respect to general and board meetings specified by the institute of company secretaries of india constituted under section 3 of the company secretaries act, 1980, and approved as such by the central government.
In terms of the requirement of section 118 of the companies act 20, every company is required to comply with the secretarial standards issued by icsi with the approval of the central government. We discuss the key changes made in this secretarial standard. Secretarial standard on general meetings following is the text of the secretarial standard 2 ss2 on general meetings, issued by the council of the institute of company secretaries of india and approved by the central government. Section 118 under the aegis of which the secretarial standards have been made mandatory has been made exempt in entirety to a section 8 company. Standard and finalise the same in consultation with ssb.
In the initial years, adherence by a company to this secretarial standard will be recommendatory. Revised secretarial standards on meetings of the board of directors ss1 and general meetings ss2 revised by the institute of company secretaries of india icsi and approved by the central government secretarial standards on meetings of the board of directors ss1 and general meetings ss2 were approved by the central government under section 11810 of the. Aug 30, 2017 accordingly, the secretarial standards on meetings of the board of directors ss1 and secretarial standards on general meetings ss2, as approved by the central government, have been issued by the icsi for observance by all companies except exempted class of companies. Secretarial standard 4 registers and records ss 4 preface to the secretarial standards secretarial standards board and its objectives the institute of company secretaries of india, icsi, recognising the need for integration, harmonisation and standardisation of diverse secretarial practices, has constituted the secretarial standards board ssb with the objective of formulating secretarial. Icsi releases revised secretarial standards on boardgeneral of directors ss1 and general meetings ss2 icsi announcement revised secretarial standards on meetings of the board of directors ss1 and general meetings ss2 revised by the institute of company secretaries of india icsi and approved by the central government. Scope of secretarial standards the secretarial standards do not seek to substitute or supplant any existing laws or the rules and regulations framed there under but, in fact, seek to supplement such laws, rules and regulations. Aug 30, 2017 faqs on revised secretarial standards ss1 and ss2. Icsi home about secretarial standards board ssb list of ssb members 20112019 secretarial standards board. Revised secretarial standards, ss1 and ss2 to be applicable. Secretarial standards on meetings of the board of directors ss1 and secretarial standards on general meetings ss2 as approved by the central government on april 10, 2015, have been issued by the institute of company secretaries of india icsi vide icsi notification no. Nov 08, 2015 secretarial standards are recognised under section 11810 of the companies act,20. The secretarial standard on meetings of the board of directors ss1 and secretarial standard on general meetings ss2 issued by the institute of company secretaries of india icsi under section 11810 of the companies act, 20 are effective from 1st july, 2015. How many secretarial standard have been issued by icsi.
Major amendment in secretarial standard 1 revised ss1. Earlier these standards were recommendatory in nature. L1 and higher levels of testing are conducted by directly contacting persons named in the edc testing contacts provided at this site. Frequently asked question on revised secretarial standards ss1 and ss2. Secretarial standard 3 dividend ss 3 preface to the secretarial standards secretarial standards board and its objectives the institute of company secretaries of india, icsi, recognising the need for integration, harmonisation and standardisation of diverse secretarial practices, has constituted the secretarial standards board ssb with the objective of formulating secretarial standards. Decoding secretarial standards maintenance of minutes. Position classification standard for secretary series, gs0318. Secretarial standard on meetings of the board of directors the following is the text of the secretarial standard 1 ss1 on meetings of the board of directors, issued by the council of the institute of company secretaries of india and approved by the central government. The above insert in the revised version is only a reiteration of the earlier position. Where the law is not clear or needs explicit spirit of the law, secretarial standards, provide clarity on them. Bss1 icsb institute of chartered secretaries of bangladesh. Icsi issues secretarial standards 3 on dividend effective 1st january, 2018 december 21, 2017 corp, industries, states 0 the institute of company secretaries of india icsi has published the secretarial standards 3 on dividend ss3 on its website under secretarial standard board. Revised secretarial standard 1 shall be effective w.
Decoding secretarial standards passing of resolution by. Secretarial practice and company law download ebook pdf. Other secretarial standards issued by icsi in line with the provisions of the companies act, 1956 are under revision to align with the provisions of the companies act, 20. Jul 01, 2015 secretarial standards approved by the central government. Position classification standard for secretary series, gs0318 opm. Or four years of office experience involving administrative support practices, including two years equivalent to experienced e7level administrative support work, or equivalent to a secretary 7, or legal secretary 7. Apr 15, 2015 secretarial standard8 ss 8 secretarial standard on affixing of common seal. A surprise notification of withdrawal published on 17th august 2017 come in support of my.
Such standards may become practice but may not necessarily have legal force for want of approval by government of india. Active duty enlisted administrative separations this mandated revision, dated 19 december 2016 o implements army directive 201635, army policy on military service of transgender soldiers formerly paras 5 17a8 and 517a9. Secretarial standards means the secretarial standards as issued by the institute of company secretaries of india constituted under section 3 of the company secretaries act, 1980 and approved by the central government. The council will consider the final draft of the proposed secretarial. Just prepare your action plan and contribute in mission icsi in raising the. The guide is available as a webbased version and a pdf version at.