ICSI issues ICSI (Management and Development of CS in Practice) Guidelines, 2023 [Read Guidelines]

The roles and responsibilities of a Company Secretary in Practice have grown rapidly in response to the changing business environment and regulatory complications. As the Practice boundaries continue to expand, the Profession is expanding its footprints in numerous emerging areas with an extensive number of opportunities requiring professional knowledge. Significant responsibilities have been assigned to the Company Secretary in Practice, necessitating a high level of professionalism and strict adherence to the Company Secretaries Act, 1980, the Company Secretaries Regulations, 1982, and the Guidelines issued by the Institute in accordance with these laws.

To provide members with an organised and structured resource that avoids ambiguity in the process of stepping into the Practice side of the Profession, it became necessary to revise and streamline all of the guidelines relevant to a Company Secretary in Practice. In addition to staying up-to-date on regulatory changes, members must also be familiar with the terms of the Company Secretaries Act, Regulations, Guidelines, Standards, and Guidance issued by the Institute.

The purpose of these guidelines is to assist the Company Secretary in Practice by consolidating every applicable guideline as well as the processes involved in a coherent way that ensures ease of reference and enhanced comprehension, from implementing for the PCS Orientation Programme and enrolling as a Company Secretary in Practice to running a successful Practice. These Guidelines principally focus on the method to be followed by members at all stages of Practice, beginning with entering the Profession, managing their Firm, the service areas available to them, branding and development of the Profession, and so on.

Introduction:

a) The ICSI (Management and Development of Company Secretaries in Practice) Guidelines, 2023 will be used to refer to these guidelines.

b) These guidelines are organised into ten chapters. The provisions included therein will take effect on December 15, 2023.

Applicable on:

a) Company Secretary in Practice;

b) Firms of Company Secretary(ies) in Practice;

Definitions:

Unless otherwise defined above, all expressions shall have the same meaning as defined for them under the Company Secretaries Act, 1980, Company Secretaries Regulations, 1982, or any statutory modification or re-enactment thereof, or as used in commercial parlance, as applicable.

a) “Act” shall mean the Company Secretaries Act, 1980;

b) “Aggregator” refers to any type of business that owns, operates, or administers a facility that connects potential customers with service providers for the purpose of offering services under the aggregators’ brands or trade names;

c) “Associate” denotes a member who has agreed to enter into a contract for service with a firm or is in the firm’s employment, involved directly/indirectly for executing expressly assigned duties and shall not sign/certify on behalf of the firm unless he is a partner of the firm;

d) “Brand” refers to a company’s overall emotional corporate image;

e) “CS Logo” refers to the logo CS;

f) The term “firm” shall have the same meaning as provided in the Act;

g) “Institute” refers to the Institute of Company Secretaries of India;

h) “Journal or CSJ” refers to the Institute’s monthly publication of the “Chartered Secretary Journal”;

i) “Logo” is any visual construct that, in its most basic form, identifies a business/product/service by the use of a symbol or icon or any word written in a specific manner or a mix of these;

j) “Member” refers to an Institute Associate or Fellow member;

k) “Member Account” refers to the member’s account/dashboard saved at the weblink;

l) The term “previous incumbent” refers to the Company Secretary in Practice who provided services to the client previously to the appointment of a new Company Secretary in Practice to offer the same services;

m) “Regulations” refers to the 1982 Companies Secretaries Regulations;

n) A “TagLine” is a memorable statement or sentence that is completely identified with a specific person, product, or service. It may be a repeated word associated with an individual, group, product, or service, or entity;

o) “Weblink” refers to the link the Institute created to help members;

p) “Write up” refers to the writing of particulars issued, circulated, or published by the Company Secretary in Practice in print or electronic form or otherwise, such as in newspapers, journals, magazines, or websites, in accordance with the Guidelines, thereby setting out:

(i) services provided by the Company Secretary in Practice or firms and;

(ii) the details of the Company Secretary in Practice or firm(s).

PCS Orientation Programme:

Regulation 10(1) of the Regulations states that a member may apply to the Institute in the appropriate form for the issuance of a certificate of practice entitling him to practice as a Company Secretary anywhere in India after successfully completing the Orientation Programme in the manner and mode determined by the Council. As a result, the PCS Orientation Programme (POP) has been implemented as a step toward getting the Certificate of Practice.

Objectives:

(i) Assist the member in establishing a successful and thriving Practice, with a particular emphasis on developing skills and gaining expertise in providing services to stakeholders.

(ii) Create a consistent system for holding Orientation Programmes for members interested in acquiring a Certificate of Practice.

For Official Guidelines Download the PDF Given Below: