PRACTICAL EXPERIENCE AND TRAINING REQUIREMENTS

6.1 A candidate who has passed the final examination of the Institute is required to possess the practical experience and undergo the practical training or be exempted therefrom, as specified below for becoming eligible to Associate Membership of the institute.

6.2 Practical Experience or Training

Every candidate registered as a student on or after the commencement of the Company Secretaries (Amendment) Regulation, 2001 (including a student registered de novo) and passing the Final Examination of the Institute and every candidate registered as a student before the commencement of the said regulations and who has not completed the training in accordance with the regulations in force within five years of date of his registration shall be required either: ·

(a) to possess practical experience to the satisfaction of the Council in anyone of the following manners, namely:

(i) One year experience as an Assistant/Deputy Company Secretary or any other post higher thereto in the Secretarial Department or three years’ experience as Secretarial Officer/Executive in Secretarial officer/executive in any company or body corporate having a paid-up share capital and reserves of not less than rupees twenty five lakhs or any organisation having gross fixed assets of not less than rupees fifty lakhs including any public sector , undertaking, autonomous or statutory body, financial institution or bank which in the opinion of the Council provides scope for acquiring sufficient professional experience;

(ii) two years’ experience as an executive or three years’ experience as an assistant under a Company Secretary in whole-time practice or in a firm of such Company Secretaries, which in the ‘ opinion of the Council provides scope for acquiring sufficient professional experience;

(iii) three years’ experience of continuous practice on a whole-time basis as a Chartered Accountant or Cost Accountant having carried out statutory/cost/internal audit or providing management consultancy services or three years’ experience of continuous practice as an Advocate in a High Court having rendered services as Counsel/Advisor to a Company having paid—up share capital . · and reserves of not less than rupees twenty-five lakhs or any organisation having gross fixed assets of not less than rupees fifty lakhs including any public sector undertaking, autonomous  g or statutory body, financial institution or bank which in the opinion of the Council provides scope for acquiring sufficient professional experience;

(iv) three years’ experience as an executive or four years’ experience as an assistant in the secretarial, administration, accounts, finance, personnel or legal departments in any company or body corporate having a paid-up share capital and reserves of not less than rupees twenty five lakhs or any organisation having fixed assets of not less than rupees fifty lakhs including Central/State Government, any Public Sector Undertaking, autonomous or statutory body, financial institution, banking or insurance company which in the opinion of the Council provides scope for acquiring sufficient professional experience;

(v) have acquired practical experience equivalent to those specified under clause (b) or clause (c) of this Regulation in such professional institutions in India or abroad as may be recognised by the Council in this behalf on reciprocal basis;

OR

(b) to undergo training in the manner and areas specified by the Council for a period of fifteen months in a company having a paid up share capital of not less than rupees fifty lakhs or any other institution or organisation as may be approved by the Council from time-to-time;

OR

(c) to undergo training under a Company Secretary in whole-time practice or in a firm of such Company Secretaries as approved by the Council for a period of fifteen months on hole time basis working during normal working hours.

6.3 Training after passing Intermediate Examination

A candidate who has passed the intermediate Examination of the institute may commence his training with companies or under a company secretary in practice or a firm of company secretaries in practice, recognised for the purpose by the institute with prior approval and sponsorship from the institute for fifteen months.

6.4 Compulsory Practical Training

Every candidate passing the Final Examination of the institute in addition to acquiring practical experience or undergoing training as stipulated in regulation 48 shall be required to undergo compulsory practical training for a total period of four months as specified below:

(a) to undergo three months’ training in a public limited company or body corporate having a paid up share capital of not less than rupees  twenty-five lakhs as approved by the Council from time- to-time in the following manner

(i)                    Secretarial Department (including shares and Legal) - One Month;

(ii)   Finance and Accounts Department (including Costing, Management   Accounting, Internal Audit and Taxation) - One Month;

(iii)            Administration Department (including Personnel, General E Administration, industrial, Public Relations, Marketing and (Materials Management) One Month;

Provided that a candidate who has undergone training for a period of fifteen months as specified in clauses (b) and (c) of regulation 48 may be exempted from the requirement of clause (a) of this regulation:

Provided further that the Council may on an application made in this behalf by the candidate exempt him from undergoing practical training if the Council is satisfied that the candidate has already undergone the training prescribed by such professional institutions, in India or abroad as may be recognised by the Council in this behalf on reciprocal basis.

(b)      to attend and complete successfully secretarial modular training programme for fifteen days in such manner and areas as determined by the Council and training in a specialised agency such as the Office of the Registrar of Companies, stock exchange, financial or banking institution or management consultancy firm for another fifteen days: Provided that the Council may on an application made in this behalf by the candidate exempt him from undergoing secretarial modular training programme and training in a specialised agency specified in clause (b) if the Council is satisfied that the candidate has already undergone the training prescribed by such professional institutions, in India or abroad as may be recognised by the Council in this behalf · on reciprocal basis.

6.5 Exemption from undergoing practical training except Secretarial Modular Training Programme (SMTP)

A candidate may be exempted from undergoing practical training for a maximum period of 3 1/2 months except SMTP if he possesses at least one year’s experience as assistant secretary or any post higher thereto in the secretarial department in a company or a body corporate having a paid-up share capital and reserves of not less than ` 25 lakhs or any organisation having; gross fixed assets of not less than rupees fifty lakhs including any public · sector undertaking, autonomous body, financial institution or bank which in the opinion of the Council, provides scope for acquiring sufficient professional experience.

6.6 Partial exemption from undergoing practical training

A candidate who has acquired practical experience as prescribed in para 6.2(a) above may be exempted for a maximum period of one month in any one of the three compulsory areas of practical training in company and a maximum period of fifteen days in a specialised agency such as the office of the Registrar of Companies, Stock Exchange, Financial or Banking Institutions, Management Consultancy firm provided the candidate gives documentary evidence to show that the candidate has acquired substantial portion of practical experience in that area.

6.7 Exceptions with regard to 6.2(a), 6.4 and 6.5

Any person not falling in all or any respect with regard to practical experience and practical training requirements as specified in 6.2(a), 6.4 and lm.5, but claims to have acquired practical experience and undergone practical training equivalent to those specified above may apply for full or partial exemption from acquiring practical experience or undergoing practical limiting as the case may be, and the Council may determine each case for partial or total exemption except SMTP taking into account the evidence produced by such person or after interviewing him.

6.8 Training procedure

A candidate intending to undergo training should apply to the Institute in Form ST-10. The application form should be submitted in triplicate specifying me names and addresses of recognised companies/approved company secretaries in practice, in order of preference where training is to be undertaken. On receipt of the application, the Institute would forward the particulars of the candidates to the company/company secretary in practice as per the option given by the candidate. Further on receipt of confirmation about the selection of the candidate by the company/company secretary in practice, the Institute would issue sponsorship letter to the company or the company secretary in practice as the case may be in favour of the candidate. The candidate can commence the training on receipt of the sponsorship letter from the Institute after intimating the date of commencement of training with the company or under a company secretary in practice. Candidates undergoing training under a company secretary in practice are also required to execute an agreement with the company secretary in practice on a stamp paper of ` 10* and send the particulars to the Institute for registration in the prescribed format within 15 days from the date of commencement of training.

The Council of the Institute under Gurushishya Parampara has decided the following:

(i)                     Every student requiring to undergo training should compulsorily attend the five days’ Training Orientation Programme (TOP) organised by the Institute and Regional Councils/Chapters before sponsored for 15 months training in a company or under a company secretary in practice.

(ii)                   Every student sponsored for training by the Institute is essentially required to maintain a Training Diary which can be obtained from the Institute.

(iii)                 Every student undergoing 15 months training is also required to attend 25 Hours Academic Development Programmes, which would be organized by the Regional Councils/Chapters of the Institute.

6.9 A candidate who has undergone training for a period of 15 months in a company or under a company secretary in practice may not be required to 4 undergo 3 months compulsory practical training in the company after passing - the final examination.

6.10 Similarly the final pass candidates intending to claim exemption from training on the basis of working experience as prescribed under the Regulations should apply to the Institute in the Form ST-10 given in this Handbook along with the relevant supporting documents.

6.11 The students undergoing training in a company or under a company secretary in practice are required to send quarterly reports specifying the details of training undertaken duly countersigned by the company secretary or training officer of the company/company secretary in practice as the case may be.

6.12 Any training undertaken without previously having been sponsored by the Institute will not be recognised. lt may be noted that no cognizance or credit shall be given for training undertaken without the prior approval sponsorship of the Institute.

6.13 A candidate who claims to have possessed the requisite practical experience as specified in sub clause (a) of Para 6.2 and/or is seeking partial/total exemption from undergoing practical training is required to apply in the Form ST-10 and should attach with his application the following documents: .

(i)       Experience certificate, indicating exact designation, duration of service, salary drawn, job contents in brief duly signed by the - MD/Chief Executive.

(ii)     A Copy of the annual report & accounts of the organisation(s) for the relevant period; and

(iii)   Organisation chart indicating the position of the applicant in the organisation hierarchy duly certified by the MD/Chief Executive of the organisation.

(iv)   Salary slips for the beginning and the last pay drawn from the organisation.

6.14 Proforma for Training

 The proforma for training can be obtained from the Institute by sending a self-addressed envelope with stamp of the value of ` 4/- or can be typed from the format published in the Handbook - Career in Company Secretaryship.

6.15 Proof of Practical experience and training

A candidate who possesses the requisite practical experience and has undergone the requisite practical training or has been exempted therefrom shall be required to produce necessary documentary proof to the satisfaction of the Council along with his application in the appropriate form for Associate membership.

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*(For Delhi only. In case of other States, the value as may be applicable to the particular State where the contract is executed)