Open Book Examination in New Syllabus Examination from June, 2014 onwards- ICSI

Introduction of Open Book Examination in Elective Subjects (Paper – 9) in Module-III of Professional Programme (New Syllabus) Examination from June, 2014 onwards

Company Secretary -Professional Programme (New Syllabus) offers five elective subjects in Module III, as mentioned herein below, out of which a student has to opt only one subject to study and qualify that suits his aptitude, interest,ability and career goal:

1. Banking Law and Practice

2. Capital, Commodity and Money Market

3. Insurance Law and Practice

4. Intellectual Property Rights-Law and Practice

5. International Business -Laws and Practices.

The Institute has decided to introduce Open Book Examination (OBE) in all the above five elective subjects from June 2014 onwards. However, in all other subjects/modules of Professional Programme (New Syllabus), students would continue to be examined as per traditional pattern of examinations.

This is to inculcate and develop skills of creative thinking, problem solving and decision making amongst students of its Professional Programme and to assess their analytical ability, real understanding of facts and concepts and mastery to apply, rather than to simply recall  replicate and reproduce concepts and principles in the examination.In OBE, the candidates would be allowed to consult their study material,class notes, textbooks, Bare Acts and other relevant papers, while attempting answers, as per the requirement of questions. The emphasis throughout would be in assessing the students’ understanding of the subject, applying their minds, rather than the ability to memorise large texts or rules or law.

Unlike a conventional/typical examination, which assesses how much information candiates have been able to store in their minds, the success in this type of examination depends on the candidate’s ability to understand the question, identify inherent issues, application of various techniques, laws, principles, etc. while solving answers with the help of

supporting reference material.

Broad pattern of Question Paper for OBE would be as follows:

• Each question paper would contain Six questions carrying 100 marks

• Question No.1 will be of 50 marks based on case study ranging between 3000-4000 words.

• Question No.2 will be of 30 marks based on study of regulatory framework related to the subject.

• Question No.3-6 will be of 5 marks each covering important topics of the syllabus.

Candidates are not allowed to consult their fellow examinees or exchange their study material/notes, etc. with each other in the examination hall.

Candidates are prohibited to bring in any electronic devices, such as laptop, tab, I pad, palmtop, mobile phone, or any other electronic device/ gadget at the examination hall/room. However, they are permitted to use their own battery operated noiseless and cordless pocket calculator with not more than six functions, twelve digits and two memories.

Model question paper(s) of OBE examination would be made available

on the Institute’s website shortly for reference of candidates.

Company secretaries to be called as governance professionals

The Company Secretaries Institute has written to the Corporate Affairs Ministry suggesting that their members may be rechristened as “governance professionals” on priority.

This is in keeping with the enlarged role envisaged for a company secretary under the new company law and various other legislations, S.N. Ananthasubramanian, President of ICSI, said in a letter to the Corporate Affairs Ministry.

The current nomenculature ‘company secretary’ does not adequately capture or reflect what a company secretary typically does, the letter has said.

Besides, categorising a company secretary as a ‘key managerial personnel’, the new company law has also mandated secretarial audit for certain companies.

This ICSI letter comes on the heels of the Corporate Affairs Minister Sachin Pilot assuring the company secretaries’ fraternity in November that he would support them in their effort to gain a bigger say in corporate governance.

The Government would move amendments in Parliament for a new nomenclature for Company Secretaries – governance professionals – should the ICSI push for an amendment, Pilot had recently said.

ICSI COUNCIL DECISION

Even as Justice Srikrishna Committee is undertaking a comprehensive review of the Company Secretaries Act, the council of the ICSI on November 22 decided to seek an amendment to the Act to meet “an urgent need” (rechristen the nomenclature).

After the council’s nod, the Institute of Company Secretaries’ of India (ICSI) has now approached the Corporate Affairs Ministry and sought an amendment to the Company Secretaries Act on priority to rename its members as “governance professionals”.