Dhanapal section 118 of the companies act, 20 which contains provisions relating to minutes of board, general and other meetings. Secretarial assignments include such duties as office coordination, scheduling meetings, preparing and maintaining office records. Jun 19, 2015 in my earlier post here i have raised some issues related to issuance of secretarial standards. Companies act 20 1956 secretarial standards dokmart. By virtue of the above provision, the institute of companies secretaries of india icsi has issued two secretarial standards, namely. 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. A brief summary of the requirements stated in the standards is as follows. Guidelines secretarial standards costing standards accounting standards eforms. Will the revised ss1 and ss2 be applicable to the board general meetings convened on 1st october 2017 or thereafter, even if notice of. Revised exposure drafts of secretarial standards with respect to general and board meetings for public comments. The institute may specify some of secretarial standards issued by. Secretarial standard 2 kl aggarwal associates klaggarwal. Icsi responses to queries received on secretarial standards. Aug 19, 2017 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 published in the gazette of india extraordinary part iii section 4 on 23 rd april, 2015 vide icsi notification no.
Secretarial standards secretarial standard 1 meeting of board of directors effective from 01. Icsi releases revised secretarial standards 1 and 2. Ss1 secretarial standard on meetings of the board of directors, and ss2 secretarial standard on general meetings. In particular it does not cover the myriad of steps. Note on revised ss2 secretarial standard on general meetings by. If the board fails to convene its annual general meeting in any year, any member of the company may approach the prescribed authority, which may then direct the calling of the annual general meeting of the company. Secretarial standard on transmission of shares and debentures.
Guidance note on general meetings ss2 secretarial standard 2 by icsi jan 18, 2016. Note on revised ss2 secretarial standard on general. 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. 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. Clause 205 prescribes the functions of the company secretary. Icsi releases revised secretarial standards on boardgeneral of directors ss 1 and general meetings ss2. How many secretarial standard have been issued by icsi. Section 11810 of the companies act, 20 mandates the observance of secretarial standards on general and board meetings specified by the institute of company secretaries of india and approved by the central government. On 10 th april, 2015, the central government granted approval under section 11810 of the companies act, 20 to the secretarial standards ss1 and ss2 issued by the institute of company secretaries of india. Is the observance of secretarial standards issued by icsi mandatory. Responses to queries received on secretarial standards will be updated on icsi website from time to time. Note on revised ss2 secretarial standard on general meetings. Revised secretarial standards on meetings of the board of.
Regulatory compliances, corporate governance, board committee general meetings, compliances under the companies act 20 and other applicable laws along with rules and secretarial standards, listing of shares, listing regulations, stock exchange compliances, sebi laws, dividend etc. Secretarial standard 2 on general meetings convening a general meeting. A set of clauses for convening and conducting general meetings and matters related thereto is prescribed by ss2. Revised exposure drafts of secretarial standards with respect to general and board meetings for public comments last date for comments. Section 11810 confers on the institute power to specify secretarial standards with respect to general and board meetings. Section 193 minutes of proceedings of general meetings and of board and other meetings. Someone has summarized these action points to get prepared for implementation of these standards without hassles. May 23, 2015 these secretarial standards will come into force from 1 st july, 2015 and will apply to all such board meetings and general meetings, in respect of which notices are issued on or after 1 st july, 2015. Meetings of the board of directors ssl and general meetings ss2 revised by the icsi and approved by the central governmentsecretarial 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. Icsi releases revised secretarial standards ss1 and ss2.
The institute of company secretaries of india has issued a revised version of ss2 secretarial standard on general meetings ss2. Nov 17, 2009 secretarial standard on the meetings of board of directors. Secretarial standard has been applicable on companies from 1 st july, 2015. In this post, i will discuss secretarial standards related to notice of a general meeting under ss 2 issued by institute of company secretaries of india. Secretarial standards tool for good corporate governance. Considering the date of effectiveness of secretarial standards, the institute clarifies the following. Secretarial standard on general meetings corporate law reporter. 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. Annual general meetings 02 introduction this note is intended as high level guidance to assist a company secretary in supporting the chairman at the companys annual general meeting agm itself. Under the companies act 20, the responsibility of ensuring compliance is entrusted with the company secretary.
Earlier these standards were recommendatory in nature. Introduction the secretarial standard on general meeting ss2 as approved by the central government has been issued by the institute of company secretaries of india icsi under the provisions of section 11810 and explanation under section 2051 of the companies act, 20 the act, vide icsi notification no. This document is highly rated by b com students and has been viewed 119 times. Notice is hereby given that the 41 st annual general meeting agm of the members of dabur india limited will be held on tuesday. Revised secretarial standard on general meetings ss2 taxguru. The existing ss1 and ss2 will be applicable to the board meetings and general meetings held on or before 30 th september, 2017.
Following is the text of the secretarial standard2 ss2 on general meetings, issued by the council of the institute of company secretaries of india and approved by the central government. Download the complete pdf of icsi responses to queries received on secretarial standards on board meetings and general meetings. Adherence by a company to this secretarial standard is mandatory, as per the provisions of the companies act. These standards dealing with the manner of conducting board meetings and general meetings, respectively, apply to all companies, with the exclusion of one person companies opcs. Annual general meetings other general meetings class meetings written member resolutions meeting procedures e. 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. Icsi to introduce auditing standards for professionals the. The secretarial standard2 ss2 on general meetings, has been revised and which is issued by the council of the icsi and approved by the central government shall be effective from 1 st october 2017. Secretarial standards that are issued will be in conformity with the provisions of the applicable laws.
General meetings of members including annual general meetings are. Aug 21, 2017 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 10th april, 2015 and were published in the gazette of india. Board meetings and secretarial standards ipleaders. These standards trigger certain action points at board level, shareholders level and general. 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. Employees in this job coordinate office activities and perform secretarial assignments for professional or management staff in support of the ongoing operations of the office. The ministry of corporate affairs accorded its approval under section 11810 of the companies act, 20 to the secretarial standards ss1 relating to meetings of the board of directors and ss2 relating to general meetings specified by the institute of company secretaries of india icsi. Oct 02, 2017 the institute of company secretaries of india has issued a revised version of ss2 secretarial standard on general meetings ss2. 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. Revised secretarial standard on general meetings ss2. Sep 01, 2017 revised secretarial standard shall be effective w. Secretarial standard on the meetings of board of directors.
Icsi releases revised secretarial standards on board general 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. Analysis of secretarial standard on meetings of the board of. Agenda of extraordinary general meeting is prepared on almost the same lines as agenda of annual general. The institute may specify some of secretarial standards issued by it for the purpose of this section. This section contains new updatesclarificationsnew question and answers. A birds eye view the standard is applicable for all meetings of members, for which. What are the duties of a secretary in connection with the. Guidance note on ss1 secretarial standard 1 meetings of the board of directors by icsi jan 18, 2016. Submit article calculators downloads income tax deductions empanelment exam tips.
Following is the text of the secretarial standard2 ss2 on general meetings, issued by. 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 10th april, 2015 and were published in the gazette of indiaextraordinary part iii section 4 on 23rd april, 2015 vide icsi notification no. Adherence by a company to this secretarial standard is mandatory, as per the provisions of the companies. Decoding secretarial standards notice of general meetings. The first annual general meeting must be held within 18 months after registration.
The secretarial standard1 ss1 on meetings of the board of directors, has been revised which is issued by the council of the institute of company secretaries of india and approved by the central government shall be effective from 1 st october 2017. Employees in this job coordinate office activities and perform secretarial assignments for professional or management staff in support of the on going operations of the office. Background the ministry of corporate affair mca has issued circular dated. 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. The explanatory statement setting out material facts, pursuant to section 102 of the companies act, 20 and secretarial standard2 on general meetings in respect of the special business under item no. Suggestions invited on proposed amendments to secretarial standard on meetings of the board of directors ss1 by icsi feb 17, 2016.
Duty of secretary at statutory and annual general meeting. The duty of the secretary at the statutory meeting can be discussed in terms of his duty before the meeting, at the meeting and after the meeting. How to conduct board meetings and general meetings as per. It follows from the above that while the requirements of ss2 shall not apply in respect of general meetings of a section 8 company, all the. The board shall, every year, convene a meeting of its members called the annual general meetingagm.
Origin of secretarial standards board and its objectives. There are some alterations made in the revised ss2 in comparison to former ss2. Icsi to introduce auditing standards for professionals. The term specify conveys a meaning of an act more than an act of issue. 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. Feb 24, 2018 icsi to introduce auditing standards for professionals speaking to reporters, lele said that according to two specific secretarial standards, it was mandatory to hold board and general meetings by companies. Companies amendment act, 2015 and amendments to the rules notified by mca.
This writeup analyses the provisions of secretarial standard on general meetings ss2. Section 11810 of companies act, 20 mentions the companies to follow secretarial standards as prescribed by icsi constituted under section 3 of company secretaries act, 1980 and approved by central government. Annual general meetings guidance for company secretaries. Followingisthetextofthesecretarialstandard2ss2ongeneralmeetings, issued by the council of the institute of company secretaries of india and approved by. Secretarial standard on general meetings corporate law. Apr 24, 2015 secretarial standard on general meetings.
Revised secretarial standard on general meetings icsi. Analysis of secretarial standard on meetings of the board of directors cs divesh goyal. Have you got tired of juggling through various changes under companies act, 20, rules thereunder. 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. Oct 26, 2015 by virtue of the above provision, the institute of companies secretaries of india icsi has issued two secretarial standards, namely. Revised secretarial standard 2 on general meetings an analysis.
Secretarial standard on general meetings ss2 taxguru. After elaborate deliberations, the institute of company secretaries of india icsi has prepared these standards, which have been approved by the corporate affairs ministry. Will the revised ss1 and ss2 be applicable to the boardgeneral meetings convened on 1st october 2017 or thereafter, even if notice of the meeting is issued before 1st october 2017 by complying with existing ss. Secretarial standard on general meetings following is the text of the secretarial standard2 ss2 on general meetings, issued by the council of the institute of company secretaries of india and approved by the central government. What is secretarial standard ss2 on general meeting. Comments solicited on revised exposure drafts of secretarial standards w. The central government has approved the same under section 11810 of the companies act, 20 the act. Aug 30, 2017 icsi releases revised secretarial standards on board general of directors ss1 and general meetings ss2. 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. All meetings of members other than the annual general meeting are called extraordinary general meetings. I continue my study of these secretarial standards. Dear all 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 this is for your information and record you may bookmark this page for quick accessibility ss 1 secretarial standard on the me. Secretarial standard on general meetings ss2 specified by icsi and approved by the central government.
The secretarial standard1 ss1 on meetings of the board of directors, has been revised which is issued by the council of the institute of company secretaries of india and approved by the central government shall be effective from 1 st october 2017 applicability of the ss1 standards. A set of clauses for convening and conducting general meetings and. Secretarial standards on meetings of the board and general meetings. Major amendment in secretarial standard 2 on general meeting. As required under listing regulations and secretarial standards2 on general meetings, details in respect of directors seeking reappointment at the agm, is. These secretarial standards ss1 and ss2 shall apply to board meetings and general meetings, in respect of which notices are issued on or after 1st july, 2015. Read this article to learn about the duty of secretary at statutory and annual general meeting. Sep 10, 2015 secretarial standard has been applicable on companies from 1 st july, 2015. The compliance of the provisions of ss2 is mandatory for all types of general meetings of all companies incorporated under the.
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. Liability limited by a scheme approved under professional standards legislation. Apr 24, 2015 ss 2 secretarial standard 2 on general meetings this standard is in conformity with the provisions of the act. Secretarial standard ss1 meetings of the board of directors.
Aug 25, 2017 section 11810 confers on the institute power to specify secretarial standards with respect to general and board meetings. Analysis of secretarial standard on meetings of the board. Under the corporations act 2001 cth and the companys constitution, certain matters can only be dealt with at a general meeting of. Aug 30, 2017 the existing ss1 and ss2 will be applicable to the board meetings and general meetings held on or before 30 th september, 2017. Icsi to introduce auditing standards for professionals speaking to reporters, lele said that according to two specific secretarial standards, it was mandatory to hold board and. This standard is applicable to all types of general meetings of all. Annual general meetings shall be held either at the registered office of the company or at some other place within the city, town or village in which the registered office of the company is situated, whereas other general meetings may be held at any place. The objective of ss2 is to ensure good corporate governance and better accountability towards shareholders in all general meetings. The revised notice for the annual general meeting agm along with. Adherence by a company to this secretarial standard is mandatory, as per the provisions of the companies act, 20.
Origin of secretarial standards board and its objectives the. Following is the text of the secretarial standard2 ss 2 on general meetings, issued by the council of the institute of company secretaries of india and approved by the central government. This standard prescribes a set of principles for convening and conducting general meetings and matters related thereto. Adherence by a company to this secretarial standard is mandatory, as.
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