Notification for Extension of limit for CS Appointment

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Recentely a new notification of companies act says that the limit of paid up capital for appoinemtent of a full time CS is raised from 2crores to 5 crores. In the text of notification, the last part reads as follows:

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."

does that mean that companies who now have whole time CS does not need to file form 66 (compliance certificate with RoC?

Copy of full notification is attached for reference.

 


Attached File : 40 notification- companies act.pdf downloaded: 201 times
Replies (1)

yes, if we interprete the rules, they say that the cos. having full time CS need not obtain Compliance Certificate.......

but sec. 383A of Companies Act has not yet been ameded to this effect......

however, acc. to me the rules here override the Act & in such a case, they also supersede the act.


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