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Qualifications of Company Secretary

Byadmin

Aug 23, 2022

 According to the Companies Secretary (Appointment and Qualifications) Rules, 1988, only the person who has the following qualifications can be appointed as Company Secretary 

(a) Secretary to the Institute of Company Secretaries of India for companies having paid-up capital of Rs.50 lakh or more. Must be a member and licensed holder of 

 (b) In companies with a paid-up capital of less than Rs 50 lakh, only a person possessing any one of the following qualifications can also be appointed as a company secretary 

1. Membership of the Institute of Company Secretaries of India. 

 2. Degree in Law of any University. 

 3. Membership of the Institute of Chartered Accountants of India. 

 4. Membership of the Institute of Cost and Works Accountants of India. 

 5. Post Graduate Degree or Diploma in Management awarded by any University or Institute of Management Ahmedabad or Institute of Management Calcutta. 

6. Post Graduate Degree in Commerce of any University. 

7. Diploma of Companies Act awarded by Indian Law Institute. 

 8. Post Diploma of Company Secretary conferred by the Institute of Commercial Practice, Delhi. This qualification has been added with effect from 5 February 1977.

9. Secretary and Member of the Council of Management, Calcutta. This qualification has been added with effect from May 7, 1977.

10. Diploma in Company Law and Secretarial System awarded by Udaipur University.

11. Qualifications in case of increase in paid-up capital: If the paid-up capital of a company exceeds Rs. 50 lakhs or more, it shall, in one year of such increase, appoint a member of the Institute of Secretaries of India as a whole-time secretary. 

 12. Existing Secretary: At the time of coming into force of these rules, the qualifications of working secretaries have been considered as prescribed, provided they continue to work as secretary in the same company. 

 13. Companies licensed under section 25: The above qualifications shall not apply to limited liability companies formed for the purposes of art, science, religion and charity etc. and which impose restrictions on payment of dividend to members. 

 14. Membership and Qualifications under the Company Secretaries Act: A new Act, Company Secretaries Act, 1980 has come into force from 10th December, 1980 for Company Secretaries. This act has all the arrangements regarding secretaries. There are 39 sections in this act, under this act the Institute of Company Secretaries has been established as a statutory body. The members of this organization who practice are called secretaries. Only the person who has passed the examination of the institute can be a member of this institute. 

 Under the new Act, the secretary will have the following disqualifications. 

 To be under 21 years of age. 

 1. Having an unsound mind. 

 2. Bankruptcy. 

 3. To be punished by the court for moral offense. 

 4. To be punished for misconduct in the profession.

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