'A company secretary in today's era while discharging his/her professional obligation has to perform several key roles which are also integral components of strategic management'. Discuss briefly about compliance and rep
CS Executive · Financial and Strategic Management · PYQS · June 2019
'A company secretary in today's era while discharging his/her professional obligation has to perform several key roles which are also integral components of strategic management'. Discuss briefly about compliance and representation roles.
Answer & Explanation:
A company secretary in today's era, while discharging his or her professional obligations, has to perform several key roles which are also integral components of strategic management. A brief on compliance and representation roles is as follows: Compliance role: In the current scenario, a business has to adhere to various laws and regulations, failing which may invite various legal hassles. A company secretary is required to ensure compliance with various laws and regulations, and for doing so, he/she should be conversant with the laws as well as the amendments that take place. For instance, in the Indian context, a company secretary has to ensure compliances of the following laws (but not limited to): Companies Act; SEBI Act, Securities Contracts (Regulation) Act and rules and regulations made thereunder; Foreign Exchange Management Act; Consumer Protection Act; Depositories Act; Environment and Pollution Control Laws; Labour and Industrial Laws etc. Representation role: A Company Secretary has to represent before various tribunals and courts in order to present the legal issue of the company. In India, a Company Secretary appears before the following legal bodies: National Company Law Tribunal (NCLT); National Company Law Appellate Tribunal (NCLAT); Competition Commission of India (CCI); Registrar of Companies; Tax Tribunals etc.
Topics: Strategic Management
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