WHO IS A COMPANY
SECRETARY?
Company
Secretary is a Legal expert certified by ICSI (Institute of Company Secretaries
of India) to provide legal services to companies/firm/individuals in matters
regarding
·
Registration
of a Company/LLP/OPC
·
Legal
compliance of a Company
·
Labor
laws
·
FEMA
·
VAT
·
Service
Tax
WHAT IS ICSI
As
ICAI regulates the profession of CA similarly ICSI is a recognized professional body in India to
develop and regulate the profession of Company Secretaries in India.
Membership of The Institute of Company
Secretaries of India(ICSI) has been recognized for appointment to various
superior posts and services under the Central Government.
WHAT IS THE ROLE
OF COMPANY SECRETARY?
Rule
10 of companies (Appointment and Remuneration of Managerial Personnel) Rules
2014
The
duties of Company Secretary shall also discharge, the following duties,
namely:-
(1) to provide
to the directors of the company, collectively and individually, such guidance
as they may require, with regard to their duties, responsibilities and powers;
(2) to
facilitate the convening of meetings and attend Board, committee and general
meetings and maintain the minutes of these meetings;
(3) to obtain
approvals from the Board, general meeting, the government and such other
authorities as required under the provisions of the Act;
(4) to represent
before various regulators, and other authorities under the Act in connection
with discharge of various duties under the Act;
(5) to assist
the Board in the conduct of the affairs of the company;
(6) to assist
and advise the Board in ensuring good corporate governance and in complying
with the corporate governance requirements and best practices; and
(7) to discharge
such other duties as have been specified under the Act or rules; and
(8) such other
duties as may be assigned by the Board from time to time.
IS IT TRUE THAT
SCOPE OF COMPANY SECRETARIES HAS REDUCED RECENTLY?
Though
Companies Amendment Act 2013 has done away with requirements of compliance
certificate for small companies and secretarial audit is now mandatory only for
big companies.
However
a Company secretary has so many other laws due to which his demand and need for
small companies will never fade away. These include FEMA, SEBI, Labour Laws,
Service Tax, VAT.
Other
than this section 2(51) of the Companies Act 2013 has recognized Company
Secretary as Key Managerial Person (KMP).
Companies act 2013 Section 2(51) now defines as Key Managerial Person
(KMP) as
i.
The
chief executive officer of the managing director of the manager
ii.
The
company secretary
iii.
The
whole time director
iv.
The
chief financial officer, and
v.
Such
other officer as may be prescribed.
Every
listed company and every other public company having a paid up share capital of
ten crore or more shall have whole time key managerial personnel.
As per rule 8 of the Companies (Appointment and
Remuneration of Managerial Personnel) Rules, 2014, every listed company and
every other public company having a paid-up share capital of 10 crore
rupees or more shall have whole-time key managerial personnel.
As per rule 8A, a company other than a company covered
under rule 8 that is unlisted companies which may be private or public which has a paid up share capital of 5 crore
rupees or more shall have a whole-time company secretary.
WHAT IS THE
PROCESS OF BECOMING COMPANY SECRETARY
The student who would
like to join the Course after 10+2
pass or equivalent has to undergo three stages to pursue the Company Secretaries Course i.e.
Foundation Programme can be pursued by 10+2 pass or equivalent students of Arts, Science or Commerce stream
(Excluding Fine Arts)
Students who have
appeared for 10+2 exams and are waiting for their result may also apply for
provisional admission. They can submit proof of passing +2 within 6 months from
the date of registration.
