Qualifications of Company Secretary

Qualifications of Company Secretary

Since the amendment of the Companies Act in 1994, only a person having prescribed qualifications can be appointed secretary of a company. Apart from the statutory qualifications, he should also have other qualifications as may be necessary to conduct the affairs of the company.

01. Statutory Qualifications

According to Section 2(45) of the Companies Act 2013, a Company Secretary must possess the qualifications prescribed by the Central Government from time to time.The qualifications prescribed by the Companies Secretary’s Qualifications) Rules 1975, for the Secretary of a Company are:

A (i) In case of a company having a paid-up share capital of ₹5 crore or more, the Secretary must be a member of the Institute of Company Secretaries of India incorporated under the Companies Act, 1956, and licensed under Sec. 25 of that Act.

(ii) A person who is a member of the Institute of Chartered Secretaries of London shall also be eligible for appointment as Secretary of such a company.

(B) In the case of any other company, one or more of the following qualifications shall have to be possessed by the Secretary:

(i) Qualifications specified in clause (a) above;

(ii) A degree in law granted by any university.

(iii) Membership of the Institute of Chartered Accountants of India.

(iv) Membership of the Institute of Cost and Works Accountants of India.

(v) A post-graduate degree or diploma in Management or Commerce granted by any university or the Indian Institute of Management.

(vi) A diploma in Company Law granted by any Indian Law Institute.

02. Other Qualifications

The Secretary also hold the following qualifications.