The Company Secretaries Act, 1980 and the Institute of Company Secretaries of India

The profession of Company Secretary in India is regulated by a dedicated Act of Parliament — the Company Secretaries Act, 1980. This Act does for the Company Secretary profession what the Chartered Accountants Act, 1949 does for chartered accountants: it creates a statutory body to regulate entry into the profession, prescribe its examinations and training, maintain a register of qualified persons, and enforce professional discipline.

The Institute of Company Secretaries of India (ICSI) is the statutory body corporate established under the Company Secretaries Act, 1980. Its principal responsibilities include:

• Regulating the profession of Company Secretaries in India.
• Conducting the Company Secretaryship qualifying examinations (the professional course that leads to eligibility for membership).
• Granting membership (admitting qualified candidates as Associate or Fellow members) and maintaining the register of members.
• Issuing a Certificate of Practice to members who wish to practise independently as Company Secretaries.
• Prescribing professional and ethical standards for the conduct of its members, including the Secretarial Standards on company meetings (covered later in this chapter). …