Corporate Updates – 29-06-2015


ICSI has clarified that Scope of the Secretarial Standards as laid down in SS-1 and SS-2 is in conformity with the provisions of the Act. However, if due to subsequent changes in the Act, a particular Standard or any part thereof becomes inconsistent with the Act, the provisions of the Act shall prevail.” Accordingly, if due to MCA Notification (s) referred to herein above, a particular standard or any part thereof becomes inconsistent with any of the provisions of the Act, such corresponding provisions of the Act read with the MCA Notification (s) shall prevail. These Secretarial Standards shall come into effect from 1st July, 2015.


RBI has reviewed the matter of withdrawal of all old series of Banknotes issued prior to 2005 and it has been decided to extend the date for exchanging the pre-2005 banknotes to December 31, 2015. All Banks are advised to facilitate the exchange of such notes for full value without causing any inconvenience to the public, whatsoever. These notes will retain their legal tender status and the public can continue to use these for any transaction/ payment. All branches to provide exchange facilities to public and to stop re-issue of the pre- 2005 series banknotes and not to dispense the same through the ATMs also.

Annual Membership Fees of ICSI

The Annual Membership and Certificate of Practice fee for the year 2015-16 becomes due for payment w.e.f. 1st April, 2015 and last date for payment of the same is 30th June, 2015. Members are requested to pay the fee before the last date. The Certificate of Practice fee must be accompanied by an application for renewal of Certificate of Practice in the revised Form-D duly completed in all respects and signed for renewal of Certificate of practice for the year 2015-16. The annual membership fee for ACS : Rs. 1,125/-, for FCS : Rs. 1,500/- and certificate of practice fee is Rs. 1,000/-. Fees can be paid by cash / cheque / DD in favour of “The Institute of Company Secretaries of India” or Fees can be paid online after login.

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