With the launch of a company, the company will need to appoint a company secretary. The company secretary is an officer of the company. He/she is concerned with fulfilling certain regulatory and reporting functions that are required of the company by law.
A company needs to appoint a company secretary within 6 months from the date of its incorporation. Subsequently, if the company secretary resigns, the company should appoint a new secretary within 6 months.
Duties of company secretary
There are several duties that a company secretary needs to fulfill.
All companies need to hold an Annual General Meeting (AGM) and file their Annual Return each year. The company secretary prepares the requisite notice and documents to arrange for the meeting and statutory filing.
When filings are lodged with ACRA, records should be kept in the company’s secretarial file. The Companies Act requires all companies to keep the company statutory registers and records. The company secretary looks after this requirement and maintains the statutory file.
From time to time, there may be changes to the company’s registered address, officers, share capital and other details. It is important to advise your company secretary of these changes in a timely manner. Lodgments should be made within the statutory time limit or the company may face penalties.
It may be easy to overlook the company secretarial paperwork and statutory requirements, but this may come at a cost. When documents and changes are not properly executed, they may be invalid in the eyes of the law. For instance, share issuance resolution without prior approval from shareholders would not be valid.
Taking care of the company secretarial duties can help to protect the interest of directors and shareholders. If you require assistance, we provide company secretarial services to meet your compliance needs.