The secretary is also recognized as the principal authority for complying with the requirements of other statutes

such as the Income Tax Act, Stamp Act,

Sales Tax Act, Foreign Exchange Management Act, MRTP Act, etc. Thus, it can be said that though

the secretary has to perform ministerial and administrative functions as’laid down in the Act, but in fact he is the chief executive who has to act as a

coordinator between the Board of Directors, Managing Director and Chairman on the one hand and the executives and the staff, auditors and employees

of the company on the other.

Thus, in the changed circumstances the position of company secretary has undergone a great change and in times to come we can foresee further

changes in his role.

State the qualifications which a company secretary must possess.

.9lns. A company secretary must possess the qualifications prescribed in the Companies (Appointment and Qualifications of Secretary) Rules, 1988.

For this purpose the companies have been divided into two categories, i.e., those having a paid-up share capital of Rs. 2 crores or more’ and those having

a paid-up share capital of less than Rs. 2 crores.