ICSI notifies Draft of Company Secretaries (Amendment) Regulations, 2023

ICSI - Company Secretaries (Amendment) Regulations - Company Secretaries - Regulations - taxscan

The Institute of Company Secretaries of India (ISCI) has notified the draft on Company Secretaries (Amendment) Regulations, 2023 vide notification no. No. 710/1(M)/3 issued on 27th July 2023.

The notification states that “The following draft of certain regulations, further to amend the Company Secretaries Regulations, 1982, which the Council of the Institute of Company Secretaries of India proposes to make, in exercise of the powers conferred by sub-section (1) of section 39 of the Company Secretaries Act, 1980 (56 of 1980), and with the prior approval of the Central Government, is hereby published, as required by sub section (3) of section 39 of the said Act, for information of all persons likely to be affected thereby and notice is hereby given that the said draft will be taken into consideration after expiry of the period of thirty days from the date on which copies of the Official Gazette containing this notification are made available to the public; “

The draft has recommended changes regarding Register of members, Grant or refusal of Certificate of Practice, Appointment of auditors, Auditor’s remuneration, Casual vacancy in the office of auditors, Powers and duties of the President, Powers, duties and functions of the Secretary, List of members, Manner of registration of firm and terms and conditions and Register of Firms.

The draft suggested inserting 15AA after 15A, which mentions about Panel of persons for nomination to the Board of Discipline and Disciplinary Committee constituted under Section 21A and Section 21B of the Act.

The draft also proposed to insert a new Form A with regards to Regulation 165A read with Section 20B of the Act. The regulation 165A deals with Register of firms. While registering the firm of ICSI, the concerned person has to fill the Form A which is required of you to provide the information regarding Firm Registration Number, Firm Name, Date of Constitution, Type of Firm – Proprietary/Partnership/LLP/MDP 5. Date of approval of Firm Name, Address of the Head Office, Details of Partners (Along with their date of joining and leaving), Branch office(s) of the firm- along with their address, date of opening, closure and in-charge details, Second Office(s) of the Firm, Details of Paid Assistants along with their date of joining and leaving, PAN of the Firm, GSTIN of the firm, Contact Number and email ID of the firm and Partners…etc.

The Objection or suggestion in respect of the said draft regulations, may be addressed to the Secretary, the Institute of Company Secretaries of India, ICSI House, 22, Institutional Area, Lodi Road, New Delhi 110003 within 30 days from the date of publication of notification in the gazette.  

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