ICSI shares their latest initiatives

The Institute of Company Secretaries of India (ICSI) is a premier professional body set up under an Act of Parliament, i.e., Company Secretaries Act, 1980, for the regulation and development of the profession of Company Secretaries in India. It functions under the jurisdiction of Ministry of Corporate Affairs, Government of India. The Institute, being a pro-active body, focuses on best and top-quality education to students of Company Secretaries Course and best quality set standards for CS members. The Institute has over 56,000 members and about 3.5 lakh students on its roll.

An MOU was signed with the Ministry for engaging the services of Company Secretaries for working as “CRC Executives” at the Central registration Centre of MCA on contractual basis. The entire process of recruitment and training of ICSI members as CRC professionals has been handed over by the Ministry to the ICSI.Consequent upon the recommendations of ICSI Syllabus Review Board, the Institute came up with its new curriculum for Executive and Professional Program students to ensure the cutting-edge knowledge insights providing empowered Governance professionals who would march ahead with renewed excellence towards New ICSI 2022.Examination for Executive Programme under the New Syllabus was successfully conducted in December, 2018 and for Professional Programme the same shall be conducted in June, 2019.

In order to provide equal opportunities to the youth from North-Eastern States and State of Jammu and Kashmir, to come to the mainstream and to encourage them for joining the CS Course, the Institute has launched a Fee Waiver Scheme for the related students. This Fee Waiver Scheme, which stood operative till March31, 2018, has shown an immense success with many students taking benefit of this scheme and have registered themselves in CS course since the launch of the Scheme. Consequently, the Institute is also in an active process for opening study centres to cater the academic needs of the students of such areas.

The Institute has created ‘ICSI Students Education Fund Trust’ which encourages and motivates both economically backward & academically bright students to pursue the Company Secretaryship Course. The creation of the Trust has been one of the important initiatives of the Institute to impart education to economically needy and academically bright students at zero cost thus contributing to the objectives of nation building and social responsibility.

The Secretarial Standard on Meetings of the Board of Directors (SS-1) and Secretarial Standard on General Meetings (SS-2) issued by the ICSI and approved by the Central Government (Ministry of Corporate Affairs) are mandatory for compliance under Section 118 (10) of the Companies Act, 2013 w.e.f. 1st July, 2015.Aimed at facilitating good corporate governance, the Secretarial Standards integrate, harmonise and standardise the diverse Secretarial practices followed by the corporates so as to promote uniformity and consistency. In order to promote the standardised practices in respect of Dividend and Board’s Report, the ICSI issued following two Secretarial Standards:Secretarial Standard on Dividend (SS-3)  effective from 1st January, 2018 Secretarial Standard on Report of the Board of Directors (SS-4) effective from 1st October, 2018 for voluntary adoption by companies.Many more such Secretarial Standards pertaining to different aspects of corporate law, ensuring and promoting strengthened good governance are in pipeline.