AMENDMENT IN ESOP/ESOS GUIDELINES

On 17th January, 2013 SEBI has introduced amendment in the ESOP/ESOS Guidelines, 1999.
The amendment has been introduced to control and avoid manipulation in trading and price of the securities by the promoters and directors by using shares issued by way of trust to be issued to the employees under ESOP/ESOS scheme of the Company.

The amendment is applicable from the immediate effect and the current scheme(s) issuer shall ensure that the schemes shall comply with the guidelines by 30th June, 2013.

http://www.sebi.gov.in/cms/sebi_data/attachdocs/1358405632526.pdf

COMPANIES BILL, 2012 – OPPORTUNITIES FOR COMPANY SECRETARIES

To match the changing requirement of local and global economy government introduces new Companies Bill. Companies Bill, 2012 has been passed by loksabha on 18^th December, 2012 now awaiting approval from Rajya Sabha. This new bill has on platter better and bigger opportunities to the Company Secretaries as professionals. This Bill includes company secretary in the definition of “Key Managerial Personnel” of the Company. Following is the brief of some of the scope and/or position of company secretaries expected to turn on this bill becoming an act:

ONE PERSON COMPANY

ONE PERSON COMPANY (OPC) – Companies Bill, 2012:

To promote Corporatization and to ensure entrepreneurial flexibility Companies Bill, 2012 has introduced the concept of One Person Company/One Man Company in India. As per definition given in Clause 2(62) of the Companies Bill, 2012 “One Person Company” means a company which has only one person as a member.