A member of the Institute may also practice independently as a professional after obtaining a certificate of practice from the Institute as provided in the Company Secretaries Act, 1980. The scope of work of a Company Secretary in
practice has been greatly enhanced by the Companies (Amendment) Act, 1988. Under section 161 of the
Companies Act, 1956, the
annual return of a listed
company
is compulsorily required to
be signed
by a whole-time
practicing
Company Secretary. A Company Secretary in practice who
is engaged in the formation of the company can also sign a declaration under section 33(2) that all
the requirements
of the Companies Act and the rules made thereunder have been complied with in respect of registration of the company. A Company Secretary in
practice is also authorized to give a verified declaration under section 149. Again under the guidelines laid down in Schedule XIII for appointment
of managerial
personnel
and payment of managerial remuneration, a
Company
Secretary in whole-time practice can also certify that the requirements
of Schedule XIII have been complied with.
The enactment of the Companies (Amendment) Act, 2000, has further expanded the scope of work of a Company Secretary
in practice with the insertion of the
proviso to sub-section (1)
of Section 383A. This proviso provides
that
every
company not required to employ a whole-time secretary and having a paid-up share
capital of rupees ten lakhs or more shall file with the Registrar a certificate
from a secretary in whole-time practice as to whether the company has complied with all the
provisions of the Companies Act and that a copy of such certificate
shall be attached with the Board’s report.
For a detailed list of recognitions secured so far for company secretaries in
practice, and in employment please refer to
Annexure VIII.
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