The Ultimate Guide to Corporate Secretary Responsibilities
If you are planning to incorporate your company in Singapore then it is important for you to hire a Corporate Secretary who will look after all the administrative work.
Under the Companies Act, every Singapore needs to hire a corporate secretary within the first six months after establishment. Remember this position cannot be left vacant at any cost after 6 months of incorporation.
So, if you want to hire a corporate secretary at an affordable price then go and check out HeySara corporate secretary salary that are definitely within your budget. This company will provide you CS who have years of knowledge in this field and give the right direction.
The Company Law in Singapore mandates that every company must appoint a Company Secretary. The Company Secretary is responsible for ensuring that the company complies with the relevant legislations and regulations. The Secretary also keeps the Board Members informed of their legal responsibilities towards the company.
All the companies established in Singapore should fulfill a key requirement of assigning a company secretary who must be a resident of Singapore. In case, the company has only one director then that director cannot act as a company secretary.
But if the company is having more than one director then one of the directors can act as company secretary.
Corporate Secretary Responsibilities
Key roles of a company secretary in a Singapore company
A Corporate Secretary is required by state corporation laws for every corporation. A Corporate Secretary is responsible for ensuring that the records, or minutes of the Board’s actions during a Board meeting. The roles and responsibilities of a Company Secretary in Singapore can be generally categorized under three headers depending upon whom he or she needs to answer:
Corporate Secretary Responsibilities To company
A company secretary guarantees that all the pertinent statutory obligations are met successfully. He also ensures that the business interest of the company is safeguarded. The company secretary is also present at the company’s registered office on a regular basis.
Corporate Secretary Responsibilities To company directors
A company secretary also acts as an advisor to the directors and offer practical support that is required. He also shares appropriate information with all the directors in order to ensure that they successfully contribute at the time of board meetings.
Corporate Secretary Responsibilities To company shareholders
A company secretary communicates with the shareholders as well as make sure that all their interests are well-protected. He also ensures on-time distribution of financial statements so that shareholders can be a part of decision making.
Core responsibilities of the company secretary
Every company secretary of a company in Singapore has the following core duties:
- Filing the company’s yearly accounts on time and upholding the necessary registers.
- Organize the meetings and simplify the company’s formal decision.
- In accordance with the Companies Act and the company’s constitution, all the arrangements of Annual general meetings will be done by CS.
- The corporate secretary also assures that the company and board of directors comply with the Memorandum & Articles of Association.
- CS also helps the company directors to execute good corporate governance practices in the company.
Corporate Secretary Responsibilities
Apart from all this, a corporate secretary has the power to validate documents as well as formal records of the company. Therefore, one of the best ways of appointing a corporate secretary in your Singapore company is through HeySara. You can learn more about HeySara at its official website.
In addition to the legal record-keeping and reporting requirements outlined above, the company secretary normally fulfils an important role in the efficient administration of a business. In particular, their duties normally include arranging board meetings.
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