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PART I - PROFESSIONAL MISCONDUCT IN RELATION TO MEMBERS OF THE INSTITUTE IN PRACTICE REQUIRING ACTION BY A HIGH COURT A Company Secretary in practice shall be deemed to be guilty of professional misconduct, if he- (1) discloses information acquired in the course of his professional engagement to any person other than the client so engaging him, without the consent of such client, or otherwise than as required by any law for the time being in force; (2) certifies or submits in his name or in the name of his firm a report of an examination of the matters relating to Company Secretarial practice and related statements unless the examination of such statements has been made by him or by a partner or any employee in his firm or by another Company Secretary in practice; (3) permits his name or the name of his firm to be used in connection with any report or statement contingent upon future transactions in a manner which may lead to the belief that he vouches for the accuracy of the forecast; (4) expresses his opinion on any report or statement given to any business enterprise in which he, his firm or a partner in his firm has a substantial interest, unless he discloses the interest also in his report; (5) deliberately aids in or abets the concealment in his report or statement of a material fact known to him although the disclosure of which is necessary to make such statement not misleading; (6) fails to disclose in his report a material misstatement known to him and with which he is concerned in a professional capacity; (7) is grossly negligent in the conduct of his professional duties; (8) fails to obtain sufficient information to warrant the expression of an opinion or makes exceptions which are sufficiently material to negate the expression of an opinion; (9) fails to invite attention to any material departure from the generally accepted procedure relating to the secretarial practice; (10) fails to keep moneys of his client in a separate banking account or to use such moneys for purposes for which they are intended. PART II - PROFESSIONAL MISCONDUCT IN RELATION TO MEMBERS OF THE INSTITUTE GENERALLY REQUIRING ACTION BY A HIGH COURT A member of the Institute, whether in practice or not, shall be deemed to be guilty of professional misconduct, if he- (1) contravenes any of the provisions of this Act or the regulations made 1 thereunder; (2) is guilty of such other act or omission as may be specified by the Council in this behalf, by notification in the Official Gazette.
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