Cabinet approves MoU between India and Malaysia for Mutual Cooperation in the field of Company Secretaryship

The Union Cabinet chaired by Prime Minister Narendra Modi has approved the signing of a Memorandum of Understanding between India and Malaysia for Mutual Cooperation to raise the status and prestige of the Practicing Company Secretary in both countries, and to facilitate the movement of the Company Secretaries across borders in the Asia-Pacific Region.

Point-wise details

Approval of the Cabinet is in respect of Memorandum of Understanding (MoU) between the "Institute of Company Secretaries of India (ICSI)" and "Malaysian Association of Company Secretaries (MACS)" to strengthen cooperation and to raise the status and prestige of the Practicing Company Secretary in both jurisdictions and to facilitate the movement of the company secretaries across borders in the Asia Pacific region.

Background:

Institute of Company Secretaries of India (ICSI)" is a statutory body established an Act of Parliament of India, i.e The Company Secretaries Act, 1980 (Act No. 56 of 1980), to develop and regulate the profession of Company Secretaries in India. Malaysian Association of Company Secretaries (MACS)" is a Malaysian professional body of Company Secretaries whose core objective is to improve and advance the professional competence and status of Practicing Company Secretaries in Malaysia.