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Corporate Laws and Secretarial Practice |
Course Objective
The course is designed to achieve the following objectives. These are to
- know particular code of conduct, policies & conventions are maintained by the organization
- know corporate laws that regulate a corporate type of business right from its formation up to winding up
- know all legal procedures maintained in corporate matters
- know the standard practices that a corporate secretary should follow
A. Company Law-Weight-40%
303.01.1. Introduction :
Background and evolution of company law in the sub-continent – The company: Its nature and kinds – formation and incorporation of a company – law and Procedures.
303.01.2. Memorandum of Association :
Definition – Importance – Form – Content – Procedure of alteration.
303.01.3. Articles of Association:
Definition – Content – Procedure of alteration.
303.01.4 Prospectus:
Issue – Listing of Companies – Content – Statement in lieu of prospectus – Misleading Prospectus – Remedies.
303.01.5 Share Capital:
Application – Allotment – Types of shares – Debenture – Premium – Discount – Rights Issue – Convertibility – Alteration of Share Capital – Bonus share – Share-split.
303.01.6. Share Certificate and Share Warrant:
Definition – Content – Issue – Surrender etc. Membership and maintenance of register etc.
Transfer and transmission of shares and Debentures – Forfeiture of shares.
303.01.7. Company Management and Administration:
Directors – Qualifications – Appointment – Removal of Managing Agent – Duration – Investigation – Remuneration.
303.01. 8. Meetings:
Board’s Meeting – Frequency – Notice – Agenda – Quorum – Resolution – General Meetings – Types – Law and procedure – Resolutions and minutes.
303.01.9. Borrowing Powers and Methods:
Pledges – Hypothecation – Mortgage – Floating Charge.
303.01.10 Dividend and Interest :
Types – Declaration – Approval – Secretarial procedures – Warrants etc.
303.01.11. Accounts, Statutory Books and Audit :
Appointment – Remuneration and Removal of Auditors.
303.01.12. Winding-Up of Companies:
Meaning – Modes – Consequences etc.
B. Capital Market Regulatory Laws and Rules-Weight- 30%
303.02.1. Securities and Exchange Commission Regulations.
303.02.2. Stock Exchange Rules and Procedures.
303.02.3. The Bank Companies Act and Merchant Banking Rules.
303.02.4. The Insurance Act and Rules.
C. Secretarial Practice-Weight 20%
303.03.1. The Company Secretary :
Appointment – Legal position – Duties of company secretary – Rights – Liabilities and Qualifications.
303.03.2. Functions of the Company Secretary as Regards:
Formation of a company – Issuance of Shares – Issue and Redemption of Debentures – Company and Directors’ Meetings – Books of Accounts and Financial Reports – Filing of Returns.
D. Case Analysis -Weight-10%
303.04.1 Salomon v. Salomon & Co. Ltd. (1897)
303.04.2 Turner Morrison & Co. v. Hungerford Investment Trust Ltd. (1969)
303.04.3 Egyptian Salt and Soda Co. Ltd. V. Port Salid Salt Association Ltd. (1931)
303.04.4 Ashbury Railway Carriage & Iron Co. v. Riche (1875)
303.04.5 Tussaud & Sons v. Tussaud (1890)
303.04.6 Allen v. Gold Reefs of West Africa Ltd. (1900)
303.04.7 Beattie v. Bettie Ltd. (1938)
303.04.8 Gluckstein v. Barnes (1900)
303.04.9 Howrah Trading Co. v. I. T. Commissioners (1959)
303.04.10 Perceival v. Wright (1902)
303.04.11 City Equitable Fire Insurance Co. (1925)
303.04.12 Barnet Hoars & Co. v. South London Tramways Co. (1887)
303.04.13 Kingston Cotton Mills Co. (1896)
303.04.14 Foss v. Harbottle (1843)
303.04.15 Yorkshire Wool Combers’ Association (1903)
Books Recommended
1. Companies Act 1994
2. Company Law - Charlesworth & Cain.
3. Company Law- Topham E.
4. Secretarial Practice - Kuchhal M. C. (Vikas Publising House Pvt. Ltd).
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