A few times back, I obtained an inquiry from a handful of working girls who wished to undertaking into some organization. They desired to locate out about information about placing up a personal constrained firm or Sdn Bhd. A single extremely exciting query from them was “Why do we need a Business Secretary?”
From that moment on, I am quite sure numerous men and women out there are extremely curious about the identical issue and below, I would like to share with you, the responsibilities and tasks.
The Company Secretary
Every single limited organization need to have a minimal of a single Firm Secretary, in accordance to Segment 139 of the Businesses Act, 1965. The its appointment is decided by the administrators of the firm.
To qualify as a Business Secretary, he or she need to be either a member of a expert body accredited by the Ministry, or a licensed secretary granted by the SSM. Further, the man or woman need to not be a bankrupt and is not convicted of any offence underneath Part a hundred thirty (one) of the Businesses Act.
Statutory responsibilities of a Company Secretary
His/her statutory duties as needed by the Companies Act are typically as follows:-
one. Has to be present at all firm conferences and recording minutes of the meeting. In this context, firm meetings are largely referred to directors’ and shareholders’ conferences. Operational meetings do not demand a business secretary’s attendance.
2. Maintain and maintain all the statutory guides and information of the organization, ie. Minutes e-book, sign-up book, share sign up and so on.
three. Guarantee appropriate filing of all essential returns with SSM this sort of as once-a-year return, varieties and many others.
4. Concern notices of meetings to shareholders as directed by the board of administrators.
five. Method share transfers documentations and recordings.
6. Countersign crucial firm files and certifying files for particular issues this kind of as banking issues and many others.
seven. Make Hong Kong company secretary service of business seal.
Liabilities of a Firm Secretary
Presented the truth that a company secretary is an officer of a business, identical as the directors, he or she has fiduciary responsibilities to perform for the company. He or she is needs to act actually and in great religion.
He/she is individually liable to criminal expenses is he or she commits wrongful acts, and can also be penalized with a fine. Wrongful act is as simple as failure to lodge the once-a-year return to SSM.