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Company secretaries MCQs - CSEET

1. Who is a Company Secretary.

Ans: According to Section 2(1)(c) of the Company Secretaries Act, 1980 “Company Secretary”

means a person who is a member of the Institute of Company Secretaries of India.

2. How Company Secretary is define under the Companies Act, 2013.

Ans: Under the Companies Act, 2013 Company Secretary has been defined under section 2(24) as: ‘Company Secretary’ or ‘Secretary’ means a Company Secretary as defined in Section 2(1)(c) of the Company Secretaries Act, 1980 who is appointed by a company to perform the functions of the Company Secretary under the Companies Act, 2013.

3. Company Secretary is recognized as one of of a company under the Companies Act, 2013.

Ans: The Key Managerial Personnel (KMP).

4. What is stated under section 203 of companies act, 2013.

Ans: under the Companies Act, 2013. Section 203 of Companies Act, 2013 read with Rule 8 of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 provides that every listed company and every other public company having a paid-up share capital of ten crore rupees or more shall have the following whole-time key managerial personnel:

(i) Managing Director, or Chief Executive Officer or Manager and in their absence, a WholeTime Director;

(ii) Company Secretary; and

(iii) Chief Financial Officer.

5. What is stated under Rule 8A of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014.

Ans: According to Rule 8A of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014. Every Private company which has a paid up share capital of 10 crore rupees or more shall have a whole-time company secretary.

6. What are the Functions of a Company Secretary?

Ans: The functions of the company secretary shall include,—

(a) to report to the Board about compliance with the provisions of this Act, the rules made thereunder and other laws applicable to the company;

(b) to ensure that the company complies with the applicable secretarial standards;

(c) to discharge such other prescribed duties .

7. What are the Duties of Company Secretary.

Ans: The duties of Company Secretary shall also discharge, the following duties, namely:

(1) to provide to the directors of the company, collectively and individually, such guidance as they may require, with regard to their duties, responsibilities and powers;

(2) to facilitate the convening of meetings and attend Board, committee and general meetings and maintain the minutes of these meetings;

(3) to obtain approvals from the Board, general meeting, the government and such other authorities as required under the provisions of the Act;

(4) to represent before various regulators, and other authorities under the Act in connection with discharge of various duties under the Act;

(5) to assist the Board in the conduct of the affairs of the company;

(6) to assist and advise the Board in ensuring good corporate governance and in complying with the corporate governance requirements and best practices; and

(7) to discharge such other duties as have been specified under the Act or rules; and

(8) such other duties as may be assigned by the Board from time to time.

8. How Company Secretary in Practice is defined under companies act,2013.

Ans: As per Section (25) the Companies Act, 2013 "Company Secretary in Practice" means a company secretary who is deemed to be in practice under section 2(2) of the Company Secretaries Act, 1980.

9. Which Member of Institute is known as deemed “to be in practice”.

Ans: A member of the Institute shall be deemed “to be in practice” when, individually or in partnership with one or more members of the Institute in practice or in partnership with members of such other recognised professions as may be prescribed, he, in consideration of remuneration received or to be received,—

(a) Engages himself in the practice of the profession of Company Secretaries to, or in relation to, any company; or

(b) offers to perform or performs services in relation to the promotion, forming, incorporation, amalgamation, reconstruction, reorganisation or winding up of companies; or

(c) offers to perform or performs such services as may be performed by—

(i) anauthorised representative of a company with respect to filing, registering presenting, attesting or verifying any documents (including forms, applications and returns) by or on behalf of the company

(ii) a share transfer agent,

(iii) an issue house,

(iv) a share and stock broker,

(v) a secretarial auditor or consultant,

(vi) an adviser to a company on management, including any legal or procedural

matters

(vii) issuing certificates on behalf of, or for the purposes of, a company; or

(d) holds himself out to the public as a Company Secretary in practice; or

(e) renders professional services or assistance with respect to matters of principle or detail relating to the practice of the profession of Company Secretaries; or

(f) renders such other services as, in the opinion of the Council, are or may be rendered by a Company

10. Who Authorised the Company Secretary in Practice .

Ans: Company Secretary in Practice have been authorised by Government as well as Regulatory Bodies including Reserve Bank of India (RBI), Securities and Exchange Board of India (SEBI), NCLT & NCLAT, Insurance Regulatory Authority of India ((IRDA), Competition Commission of India (CCI), Real Estate Regulatory Authority of India (RERA) and Stock Exchanges (SE) to act as authorised representative and issue various certifications and undertake Secretarial Audit of Bigger Companies.

CORPORATE GOVERNANCE AND SECRETARIAL SERVICES

11. Who renders multidisciplinary professional services.

Ans: A Company Secretary being multidisciplinary professional renders services in following areas.

12. Describe Corporate Governance Services

Ans: Advising on good governance practices and compliance of Corporate Governance norms as prescribed under various Corporate, Securities and Other Business Laws and regulations and guidelines made there under.

13. What are Corporate Secretarial Services Ans:

1. Promotion, formation and incorporation of companies and matters related therewith

2. Filing, registering any document including forms, returns and applications by and on behalf of the company as an authorized representative

3. Maintenance of secretarial records, statutory books and registers

4. Arranging board/general meetings and preparing minutes thereof

5. All work relating to shares and their transfer and transmission.

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