Guidance as per Secretarial Standard I regarding disclosure of compliance with Secretarial Standards in the report of Board of directors. Draft a disclosure paragraph.

Answer 3A(ii) The report of the Board of directors shall include a statement on compliances of applicable secretarial standards. The Annual Report and Annual Return of a company shall disclose the number and dates of Meetings of the Board and Committees held during the financial year indicating the number of Meetings attended by each Director. The Report of the Board of Director's shall include a statement on compliance of applicable Secretarial Standards. The above referred statement may be given as under: "The Directors have devised proper systems to ensure compliance with the provisions of all applicable Secretarial Standards and that such systems are adequate and operating effectively" The above statement is intended to align the disclosure requirement with the provisions of Section 134(5) (f) of the Companies Act, 2013, which requires the Directors to state in the Directors Responsibility Statement that the Directors have devised proper systems to ensure compliance with the provisions of all applicable laws and that such systems are adequate and operating effectively.