A Business Secretary is really a senior position inside a private sector company or public sector organisation, normally by means of a managing position or over. In large American and Canadian openly listed corporations, a business secretary is usually named a company Secretary or Secretary.
Regardless of the name, the function isn’t a clerical or secretarial one out of the typical sense. The organization secretary helps to ensure that a company matches relevant legislation and regulation, and keeps board people informed of the legal responsibilities. Company secretaries would be the company’s named representative on legal documents, which is their responsibility to make sure that the organization and it is company directors operate inside the law. It’s also their responsibility to join up and talk to shareholders, to make sure that dividends are compensated and also to maintain company records, for example lists of company directors and shareholders, and annual accounts.
In lots of countries, private companies have typically been needed legally to appoint one individual like a company secretary, which person may also usually be considered a senior board member.
ROLE AND Responsibilities Of The COMPANY SECRETARY:
Companies law requires merely a listed company to possess a whole time secretary along with a single member company (any organization that isn’t an open company) to possess a secretary.
The secretary to become hired with a listed company will be part of an accepted body of professional accountants, or part of an accepted body of corporate / chartered secretaries or perhaps a person holding a masters degree running a business Administration or Commerce or perhaps is legislation finish a college recognized and getting relevant experience. However, the organization secretary of merely one member company shall be somebody holding a bachelor degree from the college recognized.
The responsibilities of the company secretary are often found in an “employment contract”. However, the organization secretary generally performs the next functions:-
Functions of secretary:
(1). Secretarial functions:
To make sure compliance from the provisions of Companies Law and rules made there-under along with other statutes and bye-laws and regulations of the organization.
To make sure that business of the organization is carried out in compliance using its objects as found in its memorandum of association.
To make sure that matters of the organization are managed in compliance using its objects within the articles of association and also the provisions from the Companies Law.
To organize the agenda in consultation using the Chairman and yet another documents for the conferences from the board of company directors.
To set up with and also to call and hold conferences from the board and also to make a correct record of proceedings.
To go to the broad conferences to guarantee the legal needs are satisfied, and supply similarly info much like necessary.
To organize, in consultation using the chairman, the agenda along with other documents for that general conferences.
To set up using the consultation of chairman the annual and remarkable general conferences of the organization and also to attend such conferences to guarantee compliance using the legal needs and also to make correct record thereof.
To handle all matters worried about the allotment of shares, and issuance of share certificates including upkeep of statutory Share Register and performing the right activities associated with share transfers.
To organize, approve, sign and seal contracts leases, legal forms, along with other official documents around the company’s account, when authorised through the broad from the company directors or even the executive responsible.
To advise, in conjunctions using the company’s solicitors, the main executive or any other executive, according from the legal matters, as needed.
To interact legal advisors and defend the legal rights of the organization in Courts of Law.
To possess child custody from the seal of the organization.
Hiring a company secretary is mandatory for all companies established in Singapore, and this must be done within the first six months. Business consultants often also offer company secretarial service, and you can expect dedicated advice on all compliance matters.