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    NOC from previous PCS

    Posted By : Damini / Published on : 17-Aug-2020 07:30 AM / View : 1740 / Comment : 1

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    Dear Members,

    Do we need to take NOC from previous PCS or mere communication is sufficient as stated in Company Secretaries Act Clause 8 of First Schedule.
    Read more on : previous

    • Dear Ms. Damini,

      As per Language of Rule:

      Clause (8) of Part I of the FIRST SCHEDULE to The Company Secretaries Act, 1980 provides that a Company Secretary in Practice shall be deemed to be guilty of professional misconduct if he — “accepts the position of a Company Secretary in Practice previously held by another Company Secretary in Practice without first communicating with him in writing.”

      The primary requirement under this clause is of prior communication with the previous incumbent. This is intended for reasons of professional courtesy

      The clause is not intended to prevent a client from changing over to another Company Secretary for his own reasons. The client as of right, has full freedom to change over to another Company Secretary. It would be desirable for the new incumbent to obtain a letter from the company letting him know the name of the earlier incumbent or that no other Company Secretary has been appointed for the same assignment. The communication mentioned in this clause does not mean that no-objection or consent of the previous incumbent is a prerequisite of accepting the said assignment. 

      Therefore according to my understanding, Intimation is sufficient to make compliance with the given Rule.

      Refer to the rule attached herewith-

      TestingofStagingserveUDINlink.pdf

       

      09-10-2021 / 07:50:14 AM
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