Requirement for whole-time secretary now mandates qualified secretarial appointment where paid-up capital reaches prescribed threshold, with transitional compliance. Companies with paid-up share capital at or above the prescribed threshold must appoint a whole-time secretary who must be a member of the Institute of Company Secretaries of India. Companies below that threshold may appoint an individual as whole-time secretary only if the individual possesses one or more prescribed qualifications drawn from an enumerated list. If a company's paid-up capital increases to reach the threshold, it must, within one year, comply with the mandatory appointment and membership requirement. The rule also provides a limited location-based transitional exception allowing appointment of individuals with listed qualifications, subject to relocation-triggered compliance.
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Provisions expressly mentioned in the judgment/order text.
Requirement for whole-time secretary now mandates qualified secretarial appointment where paid-up capital reaches prescribed threshold, with transitional compliance.
Companies with paid-up share capital at or above the prescribed threshold must appoint a whole-time secretary who must be a member of the Institute of Company Secretaries of India. Companies below that threshold may appoint an individual as whole-time secretary only if the individual possesses one or more prescribed qualifications drawn from an enumerated list. If a company's paid-up capital increases to reach the threshold, it must, within one year, comply with the mandatory appointment and membership requirement. The rule also provides a limited location-based transitional exception allowing appointment of individuals with listed qualifications, subject to relocation-triggered compliance.
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