Did Member and Nominee shall be Relatives – OPC

One Person Company (OPC), as its name indicates is formed by a single individual. A subscriber/member of an OPC shall name a person (after obtaining his consent) as a nominee of OPC who shall, in the event of the subscriber’s death or his incapacity to contract, become the member of that One Person Company. Further, name of such nominee shall be stated in the memorandum of association.

 

Some important features of OPC are:

  • A One Person Company is incorporated as a private limited company.
  • One person cannot incorporate more than one OPC or become nominee in more than one OPC.
  • A Person can become a member in one OPC and a nominee in another OPC.
  • No minor shall become member or nominee of the One Person Company or hold share with beneficial interest.
  • It must have only one member at any point of time.
  • It shall have at least one director.

 

One question which evolved from the concept of nominee is that whether the nominee shall be the relative of the subscriber/member. Continue reading

Fees for De-novo Registration and Extension of Registration

A student whose registration got expired can apply to extent its validity. De-novo registration and extension of registration are the methods to increase the registration.
I will be writing an article to help you to find out the difference between these methods.
Fees applicable as follows

 

For De-Novo Registration*

  • If applied within 2 years of the expiry of former registration – Rs.2,000/-
  • If applied after 2 years but within 5 years of the expiry of former registration – Rs.3,000/-

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Exemption Eligibility and its Validity on the basis of Marks

Eligibility for paper wise exemption on the basis of marks are allowed on the basis of following criteria

A student who secured at least 60% marks in any subject(s) and at least 25% marks in remaining subject(s) is eligible for exemption from appearing on those subjects he scored at least 60% in the upcoming exams.
 
The point to be noted is that a student shall satisfy both conditions i.e.
1.60% marks in any subject(s), and
2.25% marks in remaining subject(s)
 
For ex; if an executive level student scored 65 marks in Economic and commercial laws (ECL), 30 marks in Company accounts and Auditing Practices (CAAP) & 24 in Capital Market and securities laws (CMSL). He is not eligible for claiming exemption on ECL, because he failed to secure 25 % marks in CMSL.

 

How to apply for Exemption

Exemption based on marks is allowed automatically. You don’t need to apply to ICSI for claiming exemption. Further, no additional fee has to be paid in this regard.

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Scope of Company Secretary for science graduates

Eligibility in company secretary course and scope for science graduates, particularly those after passing Bachelor of Technology/Science is a query which most science graduates who aims to builds their career in corporate sector has in mind. In response to the queries received, this article is prepared to address the following

  • Company Secretary and his role
  • Eligibility requirement of Science graduates for cs course & minimum marks required
  • Paper wise exemption available for B.Tech/Bsc  graduates
  • Difficulty level of CS course for science graduates
  • Scope of science graduate after competing CS

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Optional Subject in Professional Programme of ICSI

 

First, I congratulate you in clearing executive level

When it comes to registration to professional programme, main hurdle you may face may be of selecting an optional subject which will aid you in your career growth as a CS/PCS (for some it may be about a scoring subject which may be used to clear third module). Whatever be the reason you will be required to select a subject.

Following are the optional subjects available in third module

1. Banking Law and Practice
2. Capital, Commodity and Money Market
3. Insurance Law and Practice
4. Intellectual Property Rights-Law and Practice
5. International Business -Laws and Practices.

Before getting into the main context, following are the main features of optional subject.

  • Institute of Company Secretaries of India takes the lead among the professional institutions in launching open book examination. Open book examination allow students to make use of hardcopy materials like Study Material, Scanners, Bare Acts, Class Notes etc…while answering the questions.
  • Any student can change their optional subject any time. (request for change in optional subject shall be given before submitting exam application form)
  • Appearing on open book examination with the intention of simply writing as stated in study material (ie reading from the study material and writing in answer book simultaneously) may not serve purpose. Most of your time will be consumed for reading and then writing the same on your answer paper. Instead you should study the optional subject in advance like other subjects in professional level.

A brief analysis of optional subjects are given below Continue reading