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Compliance officer

CA Suraj Prasad Shaw (Chartered Accountant) (504 Points)

27 August 2011

Please clarify whether a listed company can appoint a person who is not cs as its compliance officer.

What will happen a cs is not appointed as compliance officer in that company?

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6 Replies

AMIT MISHRA (Legal Professional) (393 Points)
Replied 27 August 2011

Hi Suraj,

There is no such restriction for a compliance officer necesarrily to be a Company Secretary(Although the Listing Agreement clearly states the same. No penal actions follow on a CS not being a Compliance officer. The Statutory Compliance bodies just want a responsible person to be the same.

Thanks & Regards

Amit Mishra

BSamrish & Co.

New Delhi

CS Bijoy (Expert) (6394 Points)
Replied 27 August 2011

Yes agreed with Amit Mishra.......any person can be appointed as compliance officer, but the compliance certificate of the company if applicanle must be sign by the Company Secretary.

1 Like

CA Suraj Prasad Shaw (Chartered Accountant) (504 Points)
Replied 27 August 2011

Originally posted by : AMIT MISHRA
	Hi Suraj, There is no such restriction for a compliance officer necesarrily to be a Company Secretary(Although the Listing Agreement clearly states the same. No penal actions follow on a CS not being a Compliance officer. The Statutory Compliance bodies just want a responsible person to be the same. Thanks & Regards Amit Mishra BSamrish & Co. New Delhi

Dear Amitji,

Please clarify what will be the consequences, if the company not able to appoint a cs as a compliance officer and appointed a person who is not cs as a compliance officer and the same person is coordinating with stock exchange always.

AMIT MISHRA (Legal Professional) (393 Points)
Replied 27 August 2011

Hi Suraj,

As pointed out earlier if a person is a compliance officer he will have to corrdinate with stock exchanges quite regularly, So as far as my knowledge is concerned practically no penal provisions tend to follow. For a detailed view you can look up in various Companies the same trend is being practised where a Compliance Officer is not a Company Secretary.

Thanks & Regards

Amit Mishra

1 Like

RG - A Helping Hand (Company Secretary) (13867 Points)
Replied 27 August 2011

Agree with Amit ji

Any learned official can be appointed as CO and there is no penal consequence as it is not an offence.

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CA Suraj Prasad Shaw (Chartered Accountant) (504 Points)
Replied 27 August 2011

Originally posted by : Richank Garg
	Agree with Amit ji Any learned official can be appointed as CO and there is no penal consequence as it is not an offence. RG