Breaking Down the Role of a Company Secretary

You can think of a Company Secretary as the glue that holds a company together; they’re the behind-the-scenes maestro who ensures everything runs smoothly. They manage a mountain of legal documents, make sure the annual return (AR) gets sorted, and oversee the all-important annual general meeting (AGM). They’re also the ones who release company resolutions, keep the company books tidy, handle regulatory filings, and ensure that the company stays on the right side of the Companies Act, Cap 50. And yes, you guessed it, in Singapore, every business needs a company secretary on hand. Given the gravity of the role, becoming a suitably qualified company secretary often calls for several specialist certificates.

 

Dipping Into the Day-to-Day of a Company Secretary

A company secretary is usually busy with a variety of critical tasks:

• Making AGM and board meetings happen: This involves setting the date and agenda, letting everyone involved know about it, circulating the resolutions, and following up on what’s been decided.
• Keeping statutory registers in check: These include lists of directors, secretaries, transfers, charges, and more.
• Filing annual returns to ACRA: This must be done on time to avoid expensive fines or penalties.
• Ensuring everything’s above board: They need to be first in line to track changes in business laws and to alert directors about what actions need to be taken.
• Updating paperwork when needed: Company secretaries are often found drafting resolutions, refreshing the Company Constitution, and letting ACRA in on any changes.
• Running the show at the registered office: They manage and oversee the company’s registered office.

 

Decoding the Process of Hiring a Company Secretary

When a private company sets out to find a corporate secretary, it’s crucial to ensure that the potential candidate has a residence in Singapore. Public companies, though, should hire a filing agent who boasts significant experience as a public company secretary or has membership in a recognized association.

Post their registration, businesses in Singapore are given a six-month window to appoint a company secretary. The secretary-to-be must be either a Singapore citizen or hold a certain residence status, such as a Permanent Residence (PR), Employment Pass (EP), EntrePass, or a Dependent’s Pass. It’s worth remembering that an individual cannot wear both the director and corporate secretary hats simultaneously. However, if a company boasts more than one director, one of them can take up the company secretary gig.

Having a skilled company secretary on board can be a major asset to a private limited company. Not only can they provide valuable advice in corporate matters, but their experience can also warn you of potential pitfalls when doing business in Singapore.