Whereas the draft regulations
further to amend the Company Secretaries Regulations, 1982 were published, as
required by sub-section (3) of section 39 of the Company Secretaries Act, 1980
(56 of 1980), at pages 1 to 8 in the Gazette of India Extraordinary, Part III,
Section 4 dated December, 31, 2012 under the notification of the Institute of
Company Secretaries of India number 710/1 (M)/1 dated December 31, 2012 for
inviting objections and suggestions from all persons likely to be affected
thereby before the expiry of forty-five days of the date on which the copies of
the said notification as published in the Gazette of India were made available
to the public; AND WHEREAS objections and
suggestions were invited before the expiry of period of forty five days from
the date on which the copies of the said Gazette were made available to the
public; AND WHEREAS the said Gazette was
made available to the public on the 8th January, 2013; AND WHEREAS objections and
suggestions received from the public have been considered by the Council; NOW, THEREFORE, in exercise of
the powers conferred by sub-section (1) of the section 39 of the Company
Secretaries Act, 1980 (56 of 1980), the Council, with the approval of the
Central Government, hereby makes the following regulations further to amend the
Company Secretaries Regulations, 1982, namely:- (1) These
regulations may be called the Company Secretaries (Amendment) Regulations,
2014. (2) These
regulations shall come into force on the date of their publication in the
Gazette of India. In the Company Secretaries
Regulations, 1982,- (i) for
regulation 40, the following regulation shall be substituted, namely:- "40 Admission to Executive
Programme Examination.- No candidate shall be admitted to
Executive Programme Examination unless he is a registered student and applies
with such examination fees as may be determined by the Council from time to
time, in accordance with the directions given by the Council." (ii) after
Chapter VI, the following Chapter VIA shall be inserted, namely:- "CHAPTER VI A Practical Experience and Training
requirements 46AA. Applicability of this
Chapter.-- The provisions of this Chapter shall
apply to:- (a) a student
registered to the Executive Programme on or after the date of publication of
this notification; and (b) a student
registered to the Executive Programme before the date of publication of this
notification, if he wishes to comply with the requirements of this Chapter
instead of those specified in Chapter VII. 46AB Practical Experience and
Training.-- (1) A student
who has passed the Final examination or Professional Programme examination of
the Institute shall become eligible to Associate Membership of the Institute
only after he has- (a) undergone
the practical training for a period of- (i) three
years on registration for Executive Programme; or (ii) two years
after passing the Executive Programme examination; or (iii) one year
after passing the Professional Programme examination; on whole
time basis during normal working hours- (iv) in a
company having a paid up share capital of not less than fifty lakh rupees; or (v) in any
other institution or organisation or class of institutions or organisations as
may be approved by the Council from time to time; or (vi) under a
Company Secretary in whole-time practice or in a firm of Company Secretaries; (b) completed
Management Skills Orientation Programme, after passing the Final examination or
Professional Programme examination and undergoing practical training as
specified in clause (a) of sub-regulation (1) or exempted therefrom, either in
class room environment or online for a period of fifteen days in such manner
and of such contents as may be provided by the Council from time to time. (2) The
practical training referred to in clause (a) of sub-regulation (1) may be
dispensed for a student, if to the satisfaction of the Council, he has
fulfilled the following experience, namely:- (i) (a) One
year experience as an Assistant Company Secretary or Deputy Company Secretary
or any other post equivalent or higher thereto in the Secretarial Department;
or (b) two years' experience as a Secretarial Officer or Executive or
any other post equivalent or higher thereto; or (c) three
years experience as an Assistant or any other post equivalent or higher thereto
in Secretarial Department in any company or body corporate having a paid-up
share capital of not less than fifty lakh rupees or turnover of not less than
ten crore rupees or in any public sector undertaking, autonomous or statutory
body, financial institution or bank which in the opinion of the Council
provides scope for acquiring sufficient professional experience; or (ii) (a) Two
years experience as Secretarial Officer or Executive or any post equivalent; or
(b) three years' experience as an Assistant or any other post equivalent or
higher thereto under a Company Secretary in whole time practice or in a firm of
Company Secretaries, which in the opinion of the Council provides scope for
acquiring sufficient professional experience; or (iii) (a) Two
years experience of continuous practice on a whole-time basis as a Chartered
Accountant or a Cost Accountant having carried out statutory or cost or
internal audit or providing management consultancy services; or (b) two years
experience of continuous practice as an Advocate in a high Court having
rendered services as Counsel or Advisor to a Company having paid- up share
capital and reserves of not less than fifty lakhs rupees or any organisation
having gross fixed assets of not less than one crore rupees, or in any public
sector undertaking, autonomous or statutory body, financial institute or bank
which in the opinion of the Council provides scope for acquiring sufficient
professional experience; or (iv) has
acquired practical experience equivalent to those specified under
sub-regulation (1) of this regulation in such professional institutions or
abroad as may be recognised by the Council in this behalf on reciprocal basis. 46AC Exceptions.-- Any person not falling in all or
any respects with regard to practical experience and practical training
requirements as specified in regulation 46AB but claims to have acquired
practical experience and undergone practical training, equivalent to those
specified under these regulations may apply for full or partial exemption from
acquiring practical experience or undergoing practical training, as the case
may be, and the Council may determine each case for partial or total exemption
taking into account the evidence produced by such person or after interviewing
him. 46AD Requirement of certificate
of experience and practical training by members of the Institute.-- Every applicant claiming to have
acquired the necessary practical experience and undergone the required practical
training, shall be required to obtain certificate from at least two members
having a standing of three years membership, as approved by the Council,
certifying that in the opinion of the certifying members, the candidate is a
fit and appropriate person to be admitted to the Associate Membership of the
Institute. 46AE Proof of Practical
experience and training.-- A candidate who possesses the
requisite practical experience and has undergone the requisite practical
training or has been exempted therefrom as provided in these regulations, shall
be required to produce necessary documentary proof to the satisfaction of the
Council along with his application in the appropriate form for Associate
Membership. 46AF Disciplinary action in
connection with training including Management Skills Orientation Programme.-- In the event of any misconduct by
a candidate undergoing training including management skills orientation
programme, the Council or the Disciplinary Committee may suo-moto or on receipt
of a complaint, if it is satisfied that the misconduct is proved after such
investigation as it may deem necessary after giving him an opportunity of being
heard, reprimand the candidate or cancel or suspend his registration as a
student or suspend or debar him from appearing in any one or more examinations
of the Institute or direct that any period of training already undergone shall
not be reckoned for the purpose of regulation 46AB or declare that such a
candidate is not fit and appropriate person to be admitted to the Associate
Membership of the Institute. Explanation: For the purposes of
this regulation, the expression "misconduct" shall include "a
behaviour in a disorderly manner in relation to the Institute or in or near the
place where undergoing training, breach of any regulation, condition, guideline
or direction laid down by the Institute, malpractice with regard to training or
resorting to or attempting to resort to unfair means in connection with the
undergoing of training or seeking exemption from undergoing the training or for
breach of any policies, rules and regulations for the organisation in which he
is undergoing training;" (iii) after
regulation 55A, the following regulation shall be inserted, namely:- "55AB Applicability of
Chapter VII.-- The provisions of this Chapter
shall apply to students registered to Intermediate or Executive Programme
before the date of this notification, if they do not opt to comply with the
provisions of Chapter VIA."COMPANY SECRETARIES (AMENDMENT) REGULATIONS, 2014
PREAMBLE