Explain the following: Secretarial Standard-1 in respect of alteration of minutes of the meeting of Board of Directors once signed by the Chairman.

Minutes once signed by the Chairman shall not be altered, save as mentioned in Secretarial Standard-1 (SS-1). SS-1 specifically provides for that any alteration in the minutes, as entered, should be made only by way of an express approval of the Board at its subsequent Meeting at which the minutes are to be noted by the Board and the fact of such alteration shall be recorded in the Minutes of such subsequent meeting. Within 15 days of signing the Minutes, a copy of the said Signed Minutes certified by the Company Secretary or if there is no Secretary then any of the director authorized by the Board, shall be circulated to all the director as on date of meeting and appointed thereafter. But if any Director has waived right of receiving the said copy of signed Minutes either in writing or his waiver is recorded in Minutes then there is no need of sending him such copy.