ICSI has issued revised Secretarial Standards on Meetings of the Board of Directors (SS-1) and General Meetings (SS-2). The revised SS-1 and SS-2 shall be applicable to all the companies (except the exempted class of companies) w.e.f. 1st October, 2017 and accordingly all Board Meetings (including meetings of committees of Board) and General Meetings in respect of which Notices are issued on or after 1st October, 2017 need to comply with the revised SS-1 and SS-2. The existing SS-1 and SS-2 will be applicable to the Board Meetings and General Meetings held on or before 30th September, 2017.
The revision is made considering following:
- Companies (Amendment) Act, 2015 and amendments to the Rules notified by MCA
- Exemption Notification(s) issued by MCA dated 5th June 2015
- Relaxations aimed to further ease of doing business
- Feedback received from members on practical difficulties that emerged during the first time implementation of Secretarial Standards
- To remove the interpretation issues
- Issues/suggestions received from different stakeholders
The Revised Secretarial Standards are available on following link:
Revised Secretarial Standards on Meetings of the Board of Directors (SS-1) :ICSI_30.8.17_Revised_SS-1
revised Secretarial Standards on Meetings of the General Meetings (SS-2) : ICSI_30.8.17_Revised_SS-2