Joint Stock Company Definition According to section 220

Joint Stock Company • Definition According to section 2(20) of the Companies Act 2013 “Company means a company incorporated under this Act or under any previous company law. ”

Features of Joint Stock Company • Voluntary Association • Incorporated Association • Separate Legal Entity • Artificial Person • Perpetual Succession • Common Seal • Limited Liability • Separation of ownership and Management • Transferability of shares • Number of Members

Types of Companies A) On the basis of Incorporation 1 Statutory Company 2 Registered Company B) On the basis of Number of Members 1 Private Company 2 Public Company 3 One Person Company C) On the basis of Liabilities of Members 1 Company limited by Shares 2 company limited by Guarntee 3 Unlimited liability Company

Types of Companies D) On the basis of Control 1 Holding Company 2 Subsidiary Company E) Other Types 1 Government Company 2 Foreign Company 3 Listed Company 4 Small Company 5 Associate Company 6 Dormant Company 7 Company not for profit

Secretary Definition According to Companies Act 2013 Section 2(24) “Company Secretary or Secretary means a Company Secretary as defined in Clause (c ) of Subsection (i) of Section 2 of the Company Secretary Act 1980 whom is appointed by a company to perform the function of a Company Secretary under this Act. ” The Company Secretary Act , 1980 defines Company Secretary as “a person who is a member of Institute of Company Secretaries of India. ”

Features of Secretary • Individual • Duties • Qualification • Appointment • Paid employee • Confidential officer • Representative • Qualities

Importance of Secretary • Expert advice and guidance • Administrator • Custodian of secret information • Correspondent • Legal compliance officer • Conducting Meetings • Link between management and staff • Fulfilment of Secretarial Standards and Secretarial Audit

Function of Secretary • Correspondence • Office Management • Reception function • Financial function • Arranging meeting • Statutory functions • Assistance in formulating policies • Providing information • Administrative functions

Qualities of a Secretary • Accuracy • Adaptability • Co-cooperativeness • Courtesy • Initiative • Leadership • Loyalty • Orderliness

• Pleasing personality • Knowledge seeker • Punctuality • Sound judgement • Tactfulness

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