303. Corporate Laws, Governance & Secretarial Practices

ICMAB

303. Corporate Laws, Governance & Secretarial Practices

303. Corporate Laws, Governance & Secretarial Practices – 100

Course Objective

 The course is designed to achieve the following objectives. These are to

            a.   know particular code of conduct, policies & conventions are maintained by the organization

            b.   know corporate laws that regulate a corporate type of business right from its formation up to winding up

            c.   know  all legal procedures maintained in  corporate matters

            d.   know  all legal procedures and practice maintained in  corporate governance

            e.   know the standard practices that a corporate secretary should follow

 

A. Corporate Laws – 50

 

303.01 The Companies Act 1994

1.01 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.

 

1.02 Constitution and in corporation.

1. Memorandum of Association :

Definition – Importance – Form – Content – Procedure of alteration.

2. Articles of Association :

Definition – Content – Procedure of alteration.

 

1.03 Share and capital

1. Prospectus :

Issue – Listing of Companies – Content – Statement in lieu of prospectus – Misleading Prospectus – Remedies.

2. Share Capital:

Application – Allotment – Types of shares – Debenture – Premium – Discount – Rights Issue – Convertibility – Alteration of Share Capital – Bonus share – Share-split.

3. 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.

 

1.04 Borrowing and Debenture

Borrowing Powers and Methods

Pledges – Hypothecation – Mortgage – Floating Charge.

1.05 Regulations for management of A Company limited by shares.

1.06 Directors

Directors – Qualifications – Appointment – Removal of Managing Agent – Duration – Investigation – Remuneration.

1.07 Meeting and Resolutions

Board’s Meeting – Frequency – Notice – Agenda – Quorum – Resolution – General Meetings – Types – Law and procedure – Resolutions and minutes.

1.08 Accounts, Audit and inspection.

Appointment – Remuneration and Removal of Auditors.

1.09 Winding up.

Meaning – Modes – Consequences etc.

1.10 Liquidators

1.11 Registration of Foreign Companies.

 

2.01 Bank Companies Act 1991 (Amended upto 2003)

1. Introduction

2. Business of Bank Companies

3. Suspension of Business and Winding up.

 

3.01 Law Relating to Securities & Exchange

1. Introduction

2. Securities and Exchange Ordinance – 1969

3. The Securities and Exchange Commission Act. 1993

4. Securities and Exchange Rules – 1987

 

4.01 The Financial Institutions Act – 1993

1. Introduction

2. License of Financial Institutions 

3. Reserved Fund, Dividend, Liquid Assets.

4. Submission of Accounts and Audit

5. Moratorium and Reconstruction of Financial Institution.

5.01 The Insurance Act – 1938 and Insurance Corporation Act. – 1973

1. Introduction

2. Provisions Applicable to insurance

3. Investment, loans and Management

4. Investigator and Power of Chief Controller of insurance

5. Assignment and Nomination

6. Insurance Corporation Act.

7. Winding up.

 

 

6.01 Leasing Companies Act

1. Introduction

2. Leasing industry Scenario in Bangladesh, Meaning of Lease financing

3. Types of Lease financing, operating lease, financial lease

4. Character sties of operating and financial lease

5. Merits and demerits of lease

6. Provision for leasing Companies.

 

B. Corporate Governance & Secretarial Practice – 50

a. Corporate Governance 20

 

7.01 Introduction Learning Objectives

Definition, Role Purpose, Nature and Characteristics of Corporate Governance 

 

7.02 Organization Code, Corporate conduct and ethics

Identifies the role of a given organization's code of corporate conduct and ethical values with respect to governance issues and the accomplishment of the organization's strategic objectives.

 

7.03 The board of directors

1. Roles and Responsibility

2. Appointment, Retirement & Removal

3. Qualification.

4.  Remuneration

 

7.04 Board committees

Explain and assess the importance, roles and accountabilities of board committees in corporate governance.

 

Different approaches to corporate governance. Governance: reporting and disclosure

 

b. Secretarial Practices – 30

303.06 The Company Secretary: Appointment, legal position, Duties of Company secretary, Rights – liabilities and Qualifications

 

303.07 Functions of the company secretary: Formation of a company, issuance of shares, Issue and Redemption of Debentures, Company’s Directors meeting, Books of accounts, and Financial Reports Filing of Return, Recording of minutes of meeting etc.

 

303.08 Case Analysis

303.08.1     Salomon v. Salomon & Co. Ltd. (1897)

303.08.2    Turner Morrison & Co. v. Hungerford Investment Trust Ltd. (1969)

303.08.3    Egyptian Salt and Soda Co. Ltd. V. Port Salid Salt Association Ltd. (1931)

303.08.4    Ashbury Railway Carriage & Iron Co. v. Riche (1875)

303.08.5    Tussaud & Sons v. Tussaud (1890)

303.08.6    Allen v. Gold Reefs of West Africa Ltd. (1900)

303.08.7    Beattie v. Bettie Ltd. (1938)

303.08.8    Gluckstein v. Barnes (1900)

303.08.9    Howrah Trading Co. v. I. T. Commissioners (1959)

303.08.10  Perceival v. Wright (1902)

303.08.11  City Equitable Fire Insurance Co. (1925)

303.08.12  Barnet Hoars & Co. v. South London Tramways Co. (1887)

303.08.13  Kingston Cotton Mills Co. (1896)

303.08.14  Foss v. Harbottle (1843)

303.08.15  Yorkshire Wool Combers’ Association (1903)

 

Recommended Text books

1. All the relevant Acts

2. Hand books for Company Secretary – 1998.           A.K.A. Muqtadir

3. Study manual on corporate and practices  – ICAB

4. Corporate Governance – Kesho prasad

5. Code of Corporate Governance for Bangladesh

6. CIMA, ICWAI,ACCA Study text.

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