Ceiling on certification of annual return by members in practice - Notification issued pursuant to clause (2) of Part II of Second Schedule to Company Secretaries Act, 1980
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Ceiling on certification by company secretaries: members limited to signing annual returns for a capped number of listed companies.
A practising member entitled to sign annual returns is deemed guilty of professional misconduct if he signs annual returns of more than thirty listed companies in a calendar year; for firms the ceiling applies to each partner entitled to sign, and the restriction is operative for annual returns signed on or after the specified operative date in 1989, under clause (2) of Part II of the Second Schedule to the Company Secretaries Act, 1980.