A few days in the past, I acquired an inquiry from a number of operating ladies who wanted to venture into some business. They wanted to uncover out about information about location up a non-public constrained organization or Sdn Bhd. One particular very exciting query from them was “Why do we require a Business Secretary?”
From that second on, I am quite confident several men and women out there are quite curious about the identical issue and listed here, I would like to share with you, the responsibilities and responsibilities.
The Corporate Secretary
Every constrained firm need to have a least of 1 Firm Secretary, in accordance to Area 139 of the Firms Act, 1965. The its appointment is decided by the administrators of the organization.
To qualify as a Firm Secretary, he or she need to be possibly a member of a specialist human body accredited by the Ministry, or a licensed secretary granted by the SSM. Additional, the particular person should not be a bankrupt and is not convicted of any offence beneath Area one hundred thirty (one) of the Firms Act.
Statutory obligations of a Company Secretary
His/her statutory obligations as required by the Companies Act are usually as follows:-
1. Has to be existing at all organization conferences and recording minutes of the assembly. In this context, firm meetings are mostly referred to directors’ and shareholders’ conferences. Operational conferences do not require a firm secretary’s attendance.
2. Preserve and keep all the statutory guides and records of the firm, ie. Minutes e-book, sign-up book, share sign-up and so on.
3. Make certain correct submitting of all needed returns with SSM this kind of as yearly return, types and many others.
four. Problem notices of meetings to shareholders as directed by the board of administrators.
5. Procedure share transfers documentations and recordings.
6. Countersign important company paperwork and certifying files for certain matters this sort of as banking issues etc.
7. company secretary services in hk -free custody of firm seal.
Liabilities of a Organization Secretary
Provided the reality that a firm secretary is an officer of a firm, identical as the directors, he or she has fiduciary obligations to perform for the organization. He or she is needs to act actually and in very good faith.
He/she is personally liable to legal expenses is he or she commits wrongful functions, and can also be penalized with a fantastic. Wrongful act is as simple as failure to lodge the once-a-year return to SSM.