The Institute of Company Secretaries of India (ICSI), a statutory body under the jurisdiction of the Ministry of Corporate Affairs, held its 309th Council meeting on the 5th and 6th of May, 2024. This meeting resulted in several significant decisions aimed at enhancing professional excellence and streamlining the processes for aspiring company secretaries. This article delves into the important resolutions made during this session, outlining their implications for students and members alike.
Detailed Analysis
1. Modification in Eligibility Criteria for ICSI-NISM Joint Certification
The Council approved a crucial modification in the eligibility criteria for the ICSI-NISM Joint Certification on Corporate and Securities Markets Compliances (CSMC) Executive Programme. Previously, only graduates enrolled in the CS Executive Programme were eligible for this certification. Now, the criteria have been broadened to include students who are not graduates but are enrolled in the CS Executive Programme. This inclusive approach aims to provide more opportunities for students to enhance their knowledge and skills in corporate and securities market compliances, irrespective of their graduation status.
2. Waiver of Minimum Marks Requirement for Graduates
Another landmark decision was the approval to waive the minimum 50% marks requirement in graduation for registration into the Executive Programme. This decision exempts graduates from appearing in the Company Secretary Executive Entrance Test (CSEET) regardless of their graduation marks. This move is expected to attract a broader pool of candidates, facilitating easier access to the Executive Programme and encouraging more individuals to pursue a career as company secretaries.
3. Reciprocal Arrangements with Chartered Governance Institute (CGI)
The Council also approved reciprocal arrangements regarding exemptions for members of the Chartered Governance Institute (CGI) under the ICSI Syllabus, 2022. This decision is aimed at fostering greater collaboration and mutual recognition between the two institutes, thereby enhancing the professional mobility and global recognition of ICSI members. These reciprocal arrangements will likely make it easier for members to gain exemptions and advance their careers both within India and internationally.
4. Revision of Fees for Company Secretaryship Course
Effective from 1st June 2024, the fee structure for the Company Secretaryship Course will be revised. This decision underscores the need to align the fee structure with the rising costs of delivering high-quality education and training. While the specific details of the fee revision were not disclosed, it is anticipated that the adjustment will support the institute’s commitment to providing superior educational resources and facilities to its students.
5. Organising the 52nd National Convention of Company Secretaries
The Council accorded approval for organizing the 52nd National Convention of Company Secretaries, scheduled to take place on the 21st, 22nd, and 23rd of November 2024 in Mumbai. This annual convention is a significant event in the ICSI calendar, bringing together professionals from across the country to discuss and deliberate on current issues, advancements, and future trends in the field of company secretaries. It serves as a platform for networking, knowledge sharing, and professional development.
Conclusion
The 309th Council meeting of ICSI marked a series of progressive decisions that reflect the institute’s commitment to professional excellence and adaptability to the evolving educational and professional landscape. From modifying eligibility criteria to revising course fees and organizing pivotal events, these resolutions are poised to benefit students, members, and the broader corporate governance community. As ICSI continues to evolve and grow, these decisions will play a crucial role in shaping the future of company secretaries in India and beyond.
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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/11/2024-25 Dated: 16th May, 2024
IMPORTANT DECISIONS
(Taken by the Council of the ICSI in its 309th Meeting held on 05th – 06th May, 2024)
1. Modification in the eligibility criteria of ICSI-NISM Joint Certification on Corporate and Securities Markets Compliances [CSMC] Executive Programme (Residential Integrated Program), by allowing students who are ‘not graduates and are enrolled in CS Executive Programme’, to register for the same.
2. Accorded approval for waiving off the criteria of securing a minimum of 50% marks in Graduation for the purpose of registration to Executive Programme thereby granting exemption from appearing in CSEET to Graduates [without any criteria of minimum % of marks].
3. Accorded approval for the ‘reciprocal arrangements’ on exemptions to the Members of Chartered Governance Institute (CGI) under ICSI Syllabus, 2022.
4. Revision of Fee for the Company Secretaryship Course with effect from 01st June, 2024.
5. Accorded approval for organising the ’52nd National Convention of Company Secretaries’ on 21-22-23 November 2024 at Mumbai.
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