The Institute of Company Secretaries of India 2008 ICSI Final Secreterial Management and System Audit - Question Paper

Time allowed : three hours
Maximum marks : 100
Total number of ques. : seven
PART—A
(Answer ANY 2 ques. from this part.)

1. (a) select the most improper ans from the provided choices in respect of of the subsequent :
(i) Which of the subsequent is a accurate statement about compliance certificate —
(a) Compliance certificate under part 383A(1) of the Companies Act, 1956 need not be filed as an independent document.
(b) Financial year of the company may be various from the accounting year for the purpose of compliance certificate under part 383A(1) of the Companies Act, 1956.
(c) The date of signing of compliance certificate under part 383A(1) of the Companies Act, 1956 may be any date before the date of the financial year.
(d) The compliance certificate under part 383A(1) of the Companies Act, 1956 is to be laid before the annual general meeting.

(ii) Specific and prior approval of the Executive Committee of the Council of the Institute of Company Secretaries of India is needed for a Practising Company Secretary to engage himself/herself in the business or occupation of —
(a) Acting as ISO Lead Auditor.
(b) Acting as Recovery Consultant in the banking sector.
(c) Acting as Special Executive Magistrate.
(d) Agricultural and allied activities carried on with the help of hired labour.

(iii) Buy-back of its own shares by a company in any financial year may be made subject to —
(a) The buy-back is or less than 25% of the free reserves.
(b) The buy-back is or less than 25% of the total paid-up capital and free reserves.
(c) The buy-back shall not exceed 25% of the total paid-up capital in the financial year.
(d) The ratio of debt to equity plus free reserves is less than 1:1.

(iv) Regulation (5) of the SEBI (Prohibition of Fraudulent and Unfair Trade Practices relating to Securities Markets) Regulations, 1995 deals with —
(a) Prohibition of dealing in securities in fraudulent manner.
(b) Prohibition of misleading statements to induce sale or purchase of securities.
(c) Prohibition of unfair trade practices relating to securities.
(d) Prohibition against market manipulation.

(v) The accurate statement under clause 49 of the listing agreement about the Audit Committee is —
(a) The Committee shall have a minimum of four directors as its members.
(b) The Chairman of the Committee shall be an independent director.
(c) The Director (Finance) shall be the Chairman.
(d) The Chairman of the Comittee may or may not attend the annual general meeting of the company.

Earning:   Approval pending.