Secretarial Standard

    Posted By : CS Rahul Harsh / Published on : 09-May-2018 11:21 AM / View : 310 / Comment : 3
    Print button
    As per SS 1 it is required circulating signed minutes to board members within 15 days of signing. Can Board pass a resolution to exempt the circulation of Signed Board Minutes within 15 days of the signing? Pl. advise
    Read more on : standard secretarial

    • Hi Rahul, I Think exemption cannot be given by mere passing a resolution to exempt the circulation. Read the lines of SS-1:

      Within fifteen days from the date of the conclusion of the Meeting of the Board or the Committee, the draft Minutes thereof shall be circulated by hand or by speed post or by registered post or by courier or by e-mail or by any other recognised electronic means to all the members of the Board or the Committee, as on the date of the Meeting, for their comments.

      10-05-2018 / 07:03:20 PM
      Reply
      • Sir,

        You please refer the revised Secretarial Standard – 1 under Para 7.6.4 provides that “within fifteen days of signing of the Minutes, a copy of the said signed Minutes, certified by the Company Secretary or where there is no Company Secretary by any Director authorised by the Board, shall be circulated to all the Directors, as on the date of the Meeting and appointed thereafter, except to those Directors who have waived their right to receive the same either in writing or such waiver is recorded in the Minutes.”

         

        It seems that yes an exemption may be availed. 

        11-05-2018 / 10:19:49 AM
        Reply
        • Hi Rahul.

          My Above reply has been made on the basis of the Revised Secretarial Standard – 1 under Para 7.4.

          Well; even if we refer 7.6.4 it nowhere talks about exempting circulation of the signed minutes to board members. Chiefly, it comes with an exception that if any director has willfully waived his right to receive the same either in writing or such waiver is recorded in the Minutes earlier (through an earlier passed resolution).

          Note that Such waiver (which you are calling exemption) is from Director(s) if they desire so not to receive signed minutes.

          11-05-2018 / 10:36:12 AM
          Reply



Other Queries from CS Rahul Harsh
Latest Queries
Like us on Facebook
Follow Us on Twitter
Latest ArticlesSubmit Article

We are always here to help you. Don’t hesitate to contact us anytime!

011-42345111 or ask@compliancecalendar.in