Secretarial standard on general meetings the following is the text of the secretarial standard 2 ss2, issued by the council of the institute of company secretaries of india, on general meetings. Pre board meeting or meetings of committees procedures. Secretarial standard on general meetings corporate law reporter. In case directors fail to convene the agm, the members may also convene it. Decoding secretarial standards notice of general meetings. How to conduct board meetings and general meetings as per. Revised secretarial standards key amendments vinod. Guidance note on ss1 secretarial standard 1 meetings of the board of directors by icsi jan 18, 2016. The principles enunciated in this standard are equally applicable to the meetings of committees, unless otherwise stated herein or in the act. The secretarial standard on meetings of the board of directors ss1, as approved by the central government, has been issued by the institute of company secretaries of india icsi under the provisions of section 11810 of the companies act, 20 the act, vide icsi notification no. In this scenario, we have given the list of things to be taken note while conducting the boardcommittee meetings other than the mandatory committees required to be formed under the companies act, 20 in line with the secretarial standards 1, which is coming in to practice with effect from 1 st july, 2015. Secretary of the company plays a crucial role in convening, conduct, and to attend the meeting. In this article, we are going to take a look at the major duties of a secretary before, during and after a meeting.
Notice of annual general meeting to be given to every auditor and director of company. Secretarial standard 2 introduction the ministry of corporate affairs notified secretarial standard 2 ss2 on april 23, 2015 which came into effect from july 1, 2015. I continue my study of these secretarial standards. Revised secretarial standard on general meetings ss2 editor1. A set of clauses for convening and conducting general meetings and matters related thereto is prescribed by ss2. The existing ss1 and ss2 will be applicable to the board meetings and general meetings held on or before 30 th september, 2017. The revised secretarial standard in substitution of the earlier version which was mandated for application from july, 1, 2015 has been released by the icsi after due approval of the central govt. An annual general meeting is a meeting of the general membership of an organization. The club secretary should issue a notice of the meeting attaching the agenda, minutes of the last meeting, the financial statement if. Secretarial standards on meetings of shareholders ss2.
Icsi releases revised secretarial standards ss1 and ss2. Revised secretarial standard 2 on general meetings an. Major amendment in secretarial standard 1 meeting of board of directors prathana mallya, senior associate novojuris legal twitter. Download free printable annual general meeting agenda template samples in pdf, word and excel formats. Minutes shall be recorded in books maintained for that purpose. Director seeking appointmentreappointment at the annual.
Secretarial standard on general meetings, stands withdrawn w. Secretarial standard on meetings of the board of directors and ii ss2. In my earlier post here i have raised some issues related to issuance of secretarial standards. The secretarial standard 1 seeks to prescribe a set of principles for convening and conduct of board meetings. Annual general meeting agenda template 8 free templates. In the said respect, icsi has issued a secretarial standards on board meetings ss1 and general meetings ss2. He may be supported by his corporate secretarial team. The company secretary is normally responsible for organising board meetings and any general meetings this includes the annual general meeting if the company has one. Notice of the meeting should also be given to the auditors and directors of the company as per the timeframe of the companies act 20.
Revised secretarial standard on general meetings ss2. The board or members on requisition4 may call an extra ordinary general meeting. Duties of a secretary before, during and after meetings. Notice for annual general meeting for fy 201819pdf wipro.
Rule 25 of the companies management and administration rules, 2014. The institute of company secretaries of india has issued a revised version of ss2 secretarial standard on general meetings ss2. If you are a secretary who has no experience at all in the field of taking up minutes, we will be providing you templates to guide you. The central government has approved the same under section 11810 of the companies act, 20 the act. Introduction the secretarial standard on general meeting ss2 as approved by the central government has been issued by the institute of company secretaries of india icsi under the provisions of section 11810 and explanation under section 2051 of the companies act, 20 the act, vide icsi notification no. Note on revised ss2 secretarial standard on general meetings. We will also be providing why making the minutes of the meeting is important and how to take notes quicker and longer. Suggestions invited on proposed amendments to secretarial standard on meetings of the board of directors ss1 by icsi feb 17, 2016. The notice convening the annual general meeting is attached herewith. Secretarial standard on meetings of the board of directors. The notice of the meeting had also been published on date on the companys home page on the internet it was noted that the general meeting had been convened in accordance with the articles of association and the companies act and that the convening was therefore valid the notice to the meeting was enclosed to the minutes appendix. In particular it does not cover the myriad of steps. In the initial years, adherence by a company to this secretarial standard.
What is secretarial standard ss2 on general meeting. Revised secretarial standard on general meetings icsi. Annual general meetings guidance for company secretaries. Duty of secretary at statutory and annual general meeting. Scope and functions of the secretarial standards board. Guidance note on revised secretarial standards ss 1. Adherence by a company to this secretarial standard is mandatory, as per the provisions of the companies. In this post, i will discuss secretarial standards related to notice of a general meeting under ss 2 issued by institute of company secretaries. Not only that, we will also be providing the general parts of a meeting s minutes. A brief summary of the requirements stated in the standards.
Meetings of the board of directors ssl and general meetings ss2 revised by the icsi and approved by the central government secretarial standards on meetings of the board of directors ss1 and general meetings ss2 were approved by the central government under section 11810 of the. Section 118 of companies act, 20 is relating to minutes of general meeting. Secretarial standard on general meetings ss2 issued under section 11810 of the. Adherence by a company to this secretarial standard is mandatory, as. Top fifty points on secretarial standard on meetings of. Read this article to learn about the duty of secretary at statutory and annual general meeting. An investors guide to shareholder meetings in india cfa institute. Secretarial standard on meetings of the board of directors the following is the text of the secretarial standard 1 s s1 on meetings of the board of directors, issued by the council of the institute of company secretaries of india and approved by the central government. The objective of ss2 is to ensure good corporate governance and better accountability towards shareholders in all general meetings. Secretarial standard on general meetings following is the text of the secretarial standard 2 ss2 on general meetings, issued by the council of the institute of company secretaries of india and approved by the central government. Icsi releases revised secretarial standards on board general of directors ss1 and general meetings ss2 icsi announcement revised secretarial standards on meetings of the board of directors ss1 and general meetings ss2 revised by the institute of company secretaries of india icsi and approved by the central government. Icsi releases revised secretarial standards 1 and 2. As we all know by now, a secretary is a person male or female who works in an office typing letters, memos, keeping.
Thus general meetings of companies which are held latest by september,30, 2017 shall. Secretarial standards 1 board meetings amendments 1. Minutes of general meeting as per secretarial standard 2. The secretarial standard 2 ss2 on general meetings, has been revised and which is issued by the council of the icsi and approved by the central government shall be effective from 1 st october 2017. If board fails to convene an annual general meeting or fails to convene an extra ordinary. A secretary is one of the major officers of meetings. Secretarial standard 1 ss1 and secretarial standard 2 ss2 with the changes in the provisions of. Bss2 icsb institute of chartered secretaries of bangladesh. Secretarial standard on general meeting issued by the council of the icsi and approved by central government is to be mandatorily adhered by all the companies as per the provision of.
The secretarial standard on meetings of the board of directors ss1 and secretarial standard on general meetings ss2 issued by the. Route map of the agm venue, pursuant to the secretarial standard on general meetings, is also annexed. Secretarial standard 1 meeting of the board of directors. If the board fails to convene its annual general meeting in any year, any member of the company may approach the prescribed authority, which may then direct the. In order to provide a crisp view of the ss1, we have summarized below the top fifty points which we feel are important and necessary for an overall understanding. Guidance note on general meetings ss2 secretarial standard 2 by icsi jan 18, 2016. Adherence by a company to this secretarial standard is mandatory, as per the provisions of the companies act, 20. Notice of agm 20162017 ongc petro additions limited. Secretarial standards on meetings of the board of directors ss1 and secretarial standards on general meetings ss2 as approved by the central government on april 10, 2015, have been issued by the institute of company secretaries of india icsi vide icsi notification no. Brief overview of secretarial standards ss1 and ss2.
Revised secretarial standard on meetings of board of. The secretarial standard 1 ss1 on meetings of the board of directors, has been revised which is issued by the council of the institute of company secretaries of india and approved by the central government shall be effective from 1 st october 2017 applicability of the ss1 standards. Following is the text of the secretarial standard 2 ss2 on general meetings, issued by the council of the institute of company secretaries of india and approved by the central government. These secretarial standards will come into force from 1 st july, 2015 and will apply to all such board meetings and general meetings, in respect of which notices are issued on or after 1 st july, 2015. The secretarial standard on meetings of the board of directors ss1, formulated by the secretarial standards board of the institute of company secretaries of india icsi and issued by the council of the icsi, has been approved by the central government. Secretarial assignments include such duties as office coordination, scheduling meetings, preparing and maintaining office records, reports, and correspondence pertaining to the professionalss andor management staffs area of responsibility. As per section 11810 of the companies act, 20, every company shall observe secretarial standards with respect to general meetings and board meetings specified by the institute of company secretaries of india constituted under section 3 of the company secretaries act, 1980, and approved as such by the central government.
General body meetings with more details and procedures about meetings. The following is the text of the secretarial standard 1 ss1 on meetings of the board of directors, issued by the council of the institute of company secretaries of india and approved by the central government. The secretary then presented and read a waiver of notice of the meeting, subscribed by all the directors of the corporation, and it was ordered that it be appended to the minutes of the meeting. Annual general meetings 02 introduction this note is intended as high level guidance to assist a company secretary in supporting the chairman at the companys annual general meeting agm itself. Adherence by a company to this secretarial standard is mandatory, as per the provisions of the companies act. Revised secretarial standard on general meetings ss2 taxguru. Notes on secretarial standard1 meetings of board of directors.
Key amendments to secretarial standards background the companies act, 20 act states that companies shall observe secretarial standards issued by institute of company secretaries of india icsi with respect to board and general meetings. Companies amendment act, 2015 and amendments to the rules notified by mca. Secretarial standard on general meetings corporate law. Secretarial standard 2 general meetings ss 2 preface to the secretarial standards secretarial standards board and its objectives the institute of company secretaries of india, icsi, recognising the need for integration, harmonisation and standardisation of diverse secretarial practices, has constituted the secretarial standards board ssb with the objective of formulating secretarial. Secretarial standard ii issued by icsi given the provisions of maintenance of minutes. Secretarial standard 2 general meeting effective from. The secretarial standards notified by the icsi have been in effect since 1 july 2015.
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