MANDATORY COMPLIANCE OF SECRETARIAL STANDARD UNDER COMPANIES ACT, 2013
By
CS K VINOTH AND CS D HEM SENTHIL RAJ
As per the provisions of Section 118 (10) of Companies Act, 2013every Company shall observe ‘Secretarial Standards’(SS) 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.
APPLICABILITY OF SECTION:
All Companies incorporated under the Companies Act, 2013 or under any previous Company law irrespective of the criteria of capital, turnover, profit etc.
PERSON RESPONSIBLE TO COMPLY WITH SECRETARIAL STANDARDS:
Company Secretary or Company Secretary as Key Managerial Personnel:
As per Section 205 (1) (b) of Companies Act, 2013 it shall be the responsibility/function of Company Secretary to ensure that the company complies with the applicable Secretarial Standards (SS) in case of Company where appointment of Company Secretary is mandatory or in case of company where Company Secretary is available.
Person Authorised By Board:
In case of Companies for which Section 203 of Companies Act, 2013 and The Companies (Appointment and Remuneration) Rules, 2014 is not applicable, in such a case, the Board of Directors of the Company shall authorize the person who shall be responsible to comply with the applicable Secretarial Standards.
LIST OF SECRETARIAL STANDARDS ISSUED BY THE INSTITUTE OF COMPANY SECRETARIES OF INDIA:
|
SECRETARIAL STANDARD |
PARTICULARS |
|
SS-1 |
|
|
SS-2 |
|
|
SS-3 |
|
|
SS-4 |
|
|
SS-5 |
|
|
SS-6 |
Secretarial Standard on Transmission of Shares and Debentures |
|
SS-7 |
|
|
SS-8 |
|
|
SS-9 |
|
|
SS-10 |
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