Summary of crucial decisions made by the ICSI Council in its 298th meeting held on 13th July 2023 –
1. Group Mediclaim Health Insurance Policy: The ICSI Council’s approval for launching a Group Mediclaim Health Insurance Policy for its members is a significant step towards ensuring their well-being and financial security. This move can prove instrumental in providing valuable health coverage to the members of the Institute.
2. Sensitizing Company Secretaries on AML & CFT Guidelines: The Council’s decision to sensitize Company Secretaries in Practice on the AML & CFT Guidelines, as notified by the Financial Intelligence Unit-India, aims to enhance their awareness and compliance with anti-money laundering measures. It will enable them to register as ‘Reporting Entities’ under the Prevention of Money Laundering Act, 2002, strengthening the nation’s fight against financial crimes.
3. ICSI Commerce Olympiad: The approval to conduct the ICSI Commerce Olympiad for students of class XI & XII annually, in collaboration with the Commerce Teachers’ Foundation (CTF), can prove highly beneficial. It will foster a competitive spirit among commerce students and promote knowledge and expertise in the field.
4. MoUs with State Governments for Career Awareness Programmes: The ICSI Council’s approval for signing MoUs with the Higher Education Department of all State Governments can lead to the successful organization of Career Awareness Programmes, short-term trainings, and programs on special topics. This initiative will facilitate the dissemination of information and opportunities for students pursuing the Company Secretary course.
5. Conversion of ICSI House into ‘Alternate Dispute Resolution’ (ADR): The decision to convert the 7th floor of ICSI House into an ‘Alternate Dispute Resolution’ facility signifies the Institute’s commitment to providing an effective mechanism for resolving disputes. This move can help in expediting conflict resolution and enhancing the Institute’s overall services.
6. Uniform Minimum Stipend for Practical Training: The approval of a uniform minimum stipend of Rs. 5,000/- per month for students registering for Practical Training is a positive step towards encouraging aspiring professionals. This stipend standardization will promote fairness and financial support during their training period.
THE INSTITUTE OF
Company Secretaries of India
IN PURSUIT OF PROFESSIONAL EXCELLENCE
Statutory body under an Act of Parliament
(Under the jurisdiction of Ministry of Corporate Affairs)
ICSI/ID/05/2023, Dated: 20th July, 2023
IMPORTANT DECISIONS
(Taken by the Council of the ICSI in its 298th Meeting held on 13th July, 2023)
1. Accorded approval for launching Group Mediclaim Health Insurance Policy for Members of the Institute.
2. Sensitizing the Company Secretaries in Practice on the ‘AML & CFT Guidelines for Professionals with Certificates of Practice from ICAI, ICSI and ICMAI’ as notified by Financial Intelligence Unit-India (FIU-Ind), Department of Revenue, Ministry of Finance (Effective from 19 June, 2023) for registering as ‘Reporting Entities’ under the Prevention of Money Laundering Act, 2002.
3. Approved the proposal for conducting ICSI Commerce Olympiad for students of class XI & XII every year, in association with Commerce Teachers’ Foundation (CTF).
4. Accorded approval for signing MoUs with Higher Education Department of all State Governments for conducting Career Awareness Programmes (CAPs), Short term trainings and programmes on special topics.
5. Accorded approval for conversion of 7th floor, ICSI House, C-36, Institutional Area, Sector 62, Noida-201309 as ‘Alternate Dispute Resolution’ (ADR)
6. Approved a uniform minimum stipend of Rs. 5,000/- (Rupees Five Thousand Only) per month for the students (both Executive & Professional Programme) registering for Practical Training (Company/Company Secretary in whole-time practice/other entities) on or after 01st August, 2023.
icsi should cover it’s insolvency professional registered with them also under medical care