Approval For Constitution/Reconstitution Of Firms

Constitution or Reconstitution of the Firm should be Approved by the Council
No firm of Company Secretaries shall be constituted or reconstituted without the prior approval of the Council. The Council shall not refuse to accord its approval to the constitution or reconstitution of the firm unless it is of the opinion that the terms of the partnership agreement permit directly or indirectly, the doing of anything by the firm or its partners which amounts to professional misconduct or that the terms of conditions of the partnership agreement are not fair and reasonable or that having regard to the circumstances of the case, the proposed constitution or reconstitution of the partnership would not be in the interest of the general public. A member can practice individually as well as, as a partner in one or more firms of Company Secretaries.
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