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MAJOR AMENDMENT IN SECRETARIAL STANDARD 1 – MEETING OF BOARD OF DIRECTORS

MAJOR AMENDMENT IN SECRETARIAL STANDARD 1 – MEETING OF BOARD OF DIRECTORS   SHORT SUMMARY: In this Flash editorial, the author referring amendment i.e. Secretarial Standard -1 (here after referred as “SS-1”) issued on July, 1 st , 2015 (here after referred as “Old SS”) and Revised version of SS-1 effective from 1 st October, 2017 issued by issued by Institute of Company Secretary of India (“ICSI”) dated 30 th August, 2017. This is article no. 266 of the series of editorials written by the author on corporate laws {Including Companies Act, 2013, SEBI, RBI Regulations, IBC, LLP Act, 2008 etc.}. Introduction: Revised Secretarial Standard shall be effective w.e.f. 1 st October, 2017. There are some alterations made in the revised SS-1 in comparison to former SS-1.This Standard prescribes a set of principles for convening and conducting Meetings of the Board of Directors and matters related thereto. AMENDMENT I.             Scope