COMPANY SECRETARY
This query is : Resolved
13 January 2010
hi!
WHEN DOES A COMPANY NEEDS TO APPOINT A PART TIME COMPANY SECRETARY AND WHEN IT NEEDS TO APPOINT A PART-TIME COMPANY SECRETARY?
REGARDS,
SAURABH
WHEN DOES A COMPANY NEEDS TO APPOINT A PART TIME COMPANY SECRETARY AND WHEN IT NEEDS TO APPOINT A PART-TIME COMPANY SECRETARY?
REGARDS,
SAURABH
13 January 2010
COMPANIES (APPOINTMENT AND QUALIFICATIONS OF SECRETARY) AMENDMENT RULES, 2009 - AMENDMENT IN RULE 3
NOTIFICATION NO. G.S.R. 11 (E), DATED 5-1-2009
In exercise of the powers conferred by clauses (a) and (b) of sub-section (1) of section 642 read with clause (45) of section 2 and section 383A of the Companies Act, 1956 (1 of 1956), the Central Government hereby makes the following rules further to amend the Companies (Appointment and Qualifications of Secretary) Rules, 1988, namely :—
1. (1) These rules may be called the Companies (Appointment and Qualifications of Secretary) Amendment Rules, 2009.
(2) They shall come into force from the 15th day of March, 2009.
2. In the Companies (Appointment and Qualifications of Secretary) Rules, 1988, in rule 2,
(i) in sub-rule (1) and in the proviso to sub-rule (4), for the words "rupees two crores" the following words shall be substituted, namely:—
"five crore rupees";
(ii) in sub-rule (3), the second and third proviso shall be omitted;
(iii) after sub-rule (3), the following sub-rule shall be inserted, namely:—
"(3A) A company having a paid up share capital of two crore rupees or more but less than five crore rupees may appoint any individual who possesses the qualification of membership of the Institute of Company Secretaries of India constituted under the Company Secretaries Act, 1980 (56 of 1980), as a whole-time secretary to perform the duties of a secretary under the Companies Act, 1956: Provided that where a company has appointed under sub-rule (3) or this sub-rule, a whole-time company secretary, possessing the qualification of membership of the Institute of Company Secretaries of India, such a company is not required to obtain a certificate from a secretary in whole-time practice under rule 3 of the Companies (Compliance Certificate) Rules, 2001."
NOTIFICATION NO. G.S.R. 11 (E), DATED 5-1-2009
In exercise of the powers conferred by clauses (a) and (b) of sub-section (1) of section 642 read with clause (45) of section 2 and section 383A of the Companies Act, 1956 (1 of 1956), the Central Government hereby makes the following rules further to amend the Companies (Appointment and Qualifications of Secretary) Rules, 1988, namely :—
1. (1) These rules may be called the Companies (Appointment and Qualifications of Secretary) Amendment Rules, 2009.
(2) They shall come into force from the 15th day of March, 2009.
2. In the Companies (Appointment and Qualifications of Secretary) Rules, 1988, in rule 2,
(i) in sub-rule (1) and in the proviso to sub-rule (4), for the words "rupees two crores" the following words shall be substituted, namely:—
"five crore rupees";
(ii) in sub-rule (3), the second and third proviso shall be omitted;
(iii) after sub-rule (3), the following sub-rule shall be inserted, namely:—
"(3A) A company having a paid up share capital of two crore rupees or more but less than five crore rupees may appoint any individual who possesses the qualification of membership of the Institute of Company Secretaries of India constituted under the Company Secretaries Act, 1980 (56 of 1980), as a whole-time secretary to perform the duties of a secretary under the Companies Act, 1956: Provided that where a company has appointed under sub-rule (3) or this sub-rule, a whole-time company secretary, possessing the qualification of membership of the Institute of Company Secretaries of India, such a company is not required to obtain a certificate from a secretary in whole-time practice under rule 3 of the Companies (Compliance Certificate) Rules, 2001."
13 January 2010
if company have paid up share capital Rs.5crore or more then company should appoint whole time company secretary.
13 January 2010
if paid up share capital is between Rs.2 crore to Rs.5 crore then requires compiliance certifict from practicing company secretery.
13 January 2010
Agree with above view
14 January 2010
Totally agreed
18 January 2010
If the paid up share capital is more than 5 Crores then appointment of company secretary is cumpolsury.
Where as for the companies below 5 Cr and above 2 Cr, the company has an option that it can appoint a CS or can obtain compliance certificate from practising company secretary
Where as for the companies below 5 Cr and above 2 Cr, the company has an option that it can appoint a CS or can obtain compliance certificate from practising company secretary
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