A light on the role and responsibilities of a Company Secretary
The Company Law in Singapore demands that every corporation must elect a Company Secretary. The Company Secretary is accountable for assuring that the company acknowledges the pertinent legislations and laws. The Secretary also maintains the Board Members notified of their legal duties towards the company. The Company Law interprets the legal shelf within which the Secretary and the directors must regulate.
The Company Secretary is the compliance administrator of the corporation. The Board, as well as the Chairman, rely on the Company Secretary to notify them about their responsibilities under the law, the corporate governance provisions, compliance with the listing statutes, and in administering the legally critical meetings in a timely and applicable way.
- Role and Responsibilities of a Company Secretary
The Company law in Singapore owns special duties for the Company Secretary. Following are the major Role and Responsibilities of a Company Secretary, encompassing their administrative and statutory duties.
- SUPERVISION OF STATUTORY REGISTERS
The Company Secretary has to conserve and revamp the statutory registers such as the account of substantial shareholders, register of taxes, register of partners, etc. as stipulated by the law.
- DETENTION OF THE COMPANY SEAL
The Company Secretary has to maintain the company seal under their safe supervision and utilize it on papers when needed. HeySara can be your most trusted partner in the case of Singapore company secretary service and confinement of the company seal.
- PURSUE THE CONSTITUTION OF THE COMPANY
The Singapore company secretary service has to guarantee that the company and its directors abide by the laws framed out by the Constitution of the firm at all times.
- PREPARATION OF ACCOUNTS
The Company Secretary has to assure that the summaries of the firm are ready as per the Company Law requirements. Once ready, the Secretary has to document these affidavits with the Registrar.
- NOTICE AND AGENDA OF MEETINGS
The Singapore company secretary service has to bring the heeds of the meetings to the members and shareholders. The Secretary must moreover prepare the program and organize these committees.
- INDIVIDUALITY OF THE COMPANY
The Company Secretary has to assure that the corporation’s name and being number are asserted on all notes, business information, and other authorized similarities.
- DOCUMENTING OF STATUTORY FORMS WITH THE REGISTRAR
The Company Secretary has to document crucial returns and forms with the Registrar within the stipulated timeline. The filing of returns and shapes such as Annual Returns, return of allotment of plots, and notice of appointment or resignation of a manager are also the duties of the Company Secretary.
- INSURANCE FOR THE COMPANY
It is the responsibility of the Singapore company secretary service to assure that a sufficient security cap is in the spot for the corporation, directors, officers, and the office and staff.
- PREPARATION OF THE MINUTES OF MEETINGS
The Company Secretary is compelled to read the minutes of meetings, which are titles that the corporation has to conserve as per the law. These minutes form a portion of the company records.
- EVENT-BASED COMPLIANCE
Besides the annual compliances and common duties of a Company Secretary, their duties need them to file papers with authorities in the subsequent situations:-
- Change of the registered office of the firm
- Electing a new director or concession of a former director
- Modification to the Constitution of the Company
- Difference in Company Name
- Tax creation
- Improve or reduction of share capital