Oct 02, 2017 the institute of company secretaries of india has issued a revised version of ss2 secretarial standard on general meetings ss2. The institute of company secretaries of india has issued a revised version of ss2 secretarial standard on general meetings ss2. 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. Secretarial standard 1 meeting of the board of directors. 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. Top fifty points on secretarial standard on meetings of the. I continue my study of these secretarial standards. Secretarial standard on general meetings corporate law reporter.
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. Oct 26, 2015 by virtue of the above provision, the institute of companies secretaries of india icsi has issued two secretarial standards, namely. 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. Revised secretarial standard on general meetings ss2. Board meetings and secretarial standards ipleaders. Decoding secretarial standards maintenance of minutes. Duty of secretary at statutory and annual general meeting. Note on revised ss2 secretarial standard on general meetings. 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. 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. Secretarial standard 2 kl aggarwal associates klaggarwal. Icsi releases revised secretarial standards ss1 and ss2.
Aug 20, 2017 the company secretaries institute has revised the existing two secretarial standards on meetings of the board of directors and general meetings. Note on revised ss2 secretarial standard on general. By virtue of the above provision, the institute of companies secretaries of india icsi has issued two secretarial standards, namely. Aug 30, 2017 the institute of company secretaries of india has announced that the secretarial standards on meetings of the board of directors ss1 and general meetings ss2 have been revised and the revised secretarial standards have received approval from the central government. Revised secretarial standards key amendments vinod. These secretarial standards have come into force w. The revised secretarial standards shall be applicable for compliance by. Maintenance of secretarial record is the responsibility of the management of the company. What is secretarial standard ss2 on general meeting. The revised secretarial standard in substitution of the earlier version which was mandated for application from july, 1, 2015 has been released.
This standard prescribes a set of principles for convening and conducting general meetings and matters related thereto. Section 11810 of the new companies act provide that every company other than one person company shall observe secretarial standards specified as such by the icsi with respect to general and board 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. The board shall, every year, convene a meeting of its members called the annual general meetingagm. 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. 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. 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. Secretarial standards approved by the central government.
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. A brief summary of the requirements stated in the standards is as follows. Revised secretarial standards key amendments vinod kothari. 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 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. 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. Director seeking appointmentreappointment at the annual. 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.
Revised exposure drafts of secretarial standards with respect to general and board meetings for public comments last date for comments. The secretarial standard on general meetings ss2, formulated by the secretarial standards board ssb of the institute of company secretaries of india icsi and issued by the council of the icsi, has been approved by the central government. Secretarial standard has been applicable on companies from 1 st july, 2015. This writeup analyses the provisions of secretarial standard on general meetings ss2. Existing two secretarial standards revised the hindu. 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. 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. However other business that does not require detailed discussion or urgent decisions can be approved by means of resolutions by circulation, if there is a provision in the articles to pass a resolution by circulation. Secretarial standard 1 ss1 and secretarial standard 2 ss2 with the changes in the provisions of the. 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.
Guidance note on revised secretarial standards ss 1 and ss2. Revised secretarial standard on general meetings ss2 taxguru. Secretarial standard2 ss2 seeks to prescribe a set of principles for the convening and conducting of general meetings and matters related thereto. Notice of agm 20162017 ongc petro additions limited. Guidance note on revised secretarial standards ss 1. Su invited on propose d amendments to secretaria l standards. Revised secretarial standard on general meetings icsi. Secretarial standard 2 general meeting indiafilings. 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. The board or members on requisition4 may call an extra ordinary general meeting. 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. A birds eye view the standard is applicable for all meetings of members, for which.
Icsi releases revised secretarial standards 1 and 2. There are some alterations made in the revised ss2 in comparison to former ss2. Secretarial standards tool for good corporate governance. Revised secretarial standards, ss1 and ss2 to be applicable. Secretarial standard 2 is aimed at helping companies implement the provisions of the companies act, 20 when conducting board meetings, general meetings. The copy of the standards are available in institute website at the following links. In this post, i will discuss secretarial standards related to maintenance of minutes under ss 1 and ss 2. 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.
Secretarial standards are recognised under section 11810 of the companies act,20. Pre board meeting or meetings of committees procedures. The company secretaries institute has revised the existing two secretarial standards on meetings of the board of directors and general meetings. Nov 17, 2009 secretarial standard on the meetings of board of directors. Note on revised ss2 secretarial standard on general meetings by. 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. Sep 04, 2016 as per section 11810 of the companies act, 20, every company shall observe secretarial standards with respect to general meetings 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.
The existing ss1 and ss2 will be applicable to the board meetings and general meetings held on or before 30 th september, 2017. As per section 11810 of the companies act, 20, every company shall observe secretarial standards with respect to general meetings 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. 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. Aug 30, 2017 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. 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. Secretarial assignments include such duties as office coordination, scheduling meetings, preparing and maintaining office records.
Top fifty points on secretarial standard on meetings of. Major amendment in secretarial standard 2 on general meeting. Oct 10, 2017 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. 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. In order to provide a crisp view of the ss1, we have summarized below the top fifty points which we feel are important and necessary for an overall understanding. Secretarial standard 2 on general meetings convening a general meeting. Revised secretarial standard on general meetings ss2 editor1. 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. Sep 10, 2015 secretarial standard has been applicable on companies from 1 st july, 2015. Ss provide a framework to bring uniformity, integrity and standardization in the secretarial practices followed by a corporate. Nov 08, 2015 secretarial standards are recognised under section 11810 of the companies act,20. Directors ss1 and secretarial standards on general meetings. Read this article to learn about the duty of secretary at statutory and annual general meeting.
Secretarial standard 1 ss1 and secretarial standard 2 ss2 with the changes in the provisions of the act brought by virtue. 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. In the said respect, icsi has issued a secretarial standards on board meetings ss1 and general meetings ss2. 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.
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. D21, block ep, sector v, salt lake city, kolkata700091 ph 93 400833859831402256 email. The institute of company secretaries of india has announced that the secretarial standards on meetings of the board of directors ss1 and general meetings ss2 have been revised and the revised secretarial standards have received approval from the central government. 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. Earlier these standards were recommendatory in nature. How many secretarial standard have been issued by icsi. Revised secretarial standard 2 on general meetings an analysis. Revised secretarial standards on meetings of the board of. 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. Revised drafts of secretarial standard 1 and 2 on meetings taxguru.
Secretarial standard on the meetings of board of directors. Secretarial standards the act requires certain business to be approved at meetings of the board only. Secretarial standard ss1 meetings of the board of directors. Annual general meetings guidance for company secretaries. For and on behalf of the board of directors viacom 18 media private limited sd. 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. Icsi to introduce auditing standards for professionals. In particular it does not cover the myriad of steps. 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.
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. The objective of ss2 is to ensure good corporate governance and better accountability towards shareholders in all general meetings. Every company shall keep minutes of all general meetings, board and committee meetings in a minutes book. Secretarial standard on transmission of shares and debentures. Companies amendment act, 2015 and amendments to the rules notified by mca. 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. Adherence to this secretarial standard is mandatory in accordance with section 11810 of the companies. Adherence by a company to this secretarial standard is mandatory, as per the provisions of the companies act. How to conduct board meetings and general meetings as per. Adherence by a company to this secretarial standard is mandatory, as. Comments solicited on revised exposure drafts of secretarial standards w. A set of clauses for convening and conducting general meetings and matters related thereto is prescribed by ss2.
Secretarial standards are the set of principles or guidelines. Is the observance of secretarial standards issued by icsi mandatory. The secretarial standard on meetings of the board of directors ss1 and secretarial standard on general meetings ss2 issued by the. 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. After elaborate deliberations, the institute of company secretaries of india icsi has prepared these standards, which have been approved by the corporate affairs ministry. The central government has approved the same under section 11810 of the companies act, 20 the act. Apr 24, 2015 secretarial standard on general meetings ss2 0 0 raj kumari friday, april 24, 2015 edit this post 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. Ss1 secretarial standard on meetings of the board of directors, and ss2 secretarial standard on general meetings.
881 911 206 1061 1507 660 1034 1419 749 1527 1221 273 1536 858 884 1487 801 579 1488 11 861 1498 815 575 284 1013 1471 1103 1405 114 570 819 1134 1110 85 664 1156 597 1480 1219 499 1093 1319 90 253 83