ICSI inviting comments on revised draft Secretarial Standard SS1 and SS2

ICSI inviting comments on revised Secretarial Standard SS1 and SS2. Comments on revised draft to be sent by 10th October 2019

On the recommendations of Companies Law Committee (CLC), the ICSI in 2015 had made changes in the Secretarial Standard on Meetings of the Board of Directors (SS-1) and Secretarial Standard on General Meetings (SS-2).

The above Standards had been approved by the Central Government under Section 118(10) of the Companies Act, 2013. Thereafter, the revised SS-1 and SS-2 were made effective from 1st October, 2017.

According to a Public Notice issued by ICSI, subsequent to the approval of revised SS-1 & SS-2 as stated above, following further developments has taken place:

 Companies (Amendment) Act, 2017 was notified on 3rd January, 2018

 MCA’s Exemption Notifications dated 13th June, 2017

 Amendment in Schedule IV to the Companies Act, 2013 (Notification dated 5th July, 2017)

 Amendment to the Companies (Meetings of Board and its Powers) Rules, 2014. (Notification dated 13th July, 2017) 

As per said notice, the Secretarial Standards Board (SSB) of ICSI, after considering the effects of the above amendments to the law, has finalised the proposed amendments in SS-1 and SS-2 during the third phase review and the same is approved by the Council.

The Revised draft of SS-1 and SS-2, incorporating the proposed amendments (in track mode) with the Rationale for such amendments, is placed at Annexure – I & Annexure- II respectively seeking public comments in the following format:

Suggestions/Comments on Revised drafts of Secretarial Standard on Meetings of the Board of Directors (SS-1) and Secretarial Standard on General Meetings (SS-2)

Sl.
No
Paragraph
No. /
Page No.
Existing Text of
SS-1/SS-2
Suggestions/Comments Rationale for the Suggestion
         

The last date for public comments is 10th October, 2019. 

The comments in the above format may be sent to the ICSI through e-mail at ssb@icsi.edu or in hard copy to the following address:

Institute of Company Secretaries of India
(Secretariat-SSB)
ICSI House, 22,
Institutional Area, Lodhi Road,
New Delhi – 110003

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