Duties Of A Company Secretary According To Companies Act
The position of a company secretary is an appointive position. A company secretary is an officer tasked to fulfill administrative duties to assist a company to operate smoothly. But only public companies are required by the law to appoint a qualified individual to the position. Private companies can opt not to have a company secretary unless they are ordered to do so by the Accounting and Corporate Regulatory Authority (ACRA), Singapore’s business Registrar.
Who can be a company secretary?
A company secretary should be ordinarily resident in Singapore, by virtue of Companies Act Section 171 (1). This means that the secretary must be either a Singapore citizen, a Singapore Permanent Resident, or someone with the apt Employment Pass, Approval-in-Principle letter, or Dependent’s Pass.
The company secretary also needs to be a natural individual person instead of a corporation or any other collective entity. He or she should also have the appropriate knowledge and experience to fulfill the obligations of a company secretary.
A director can also serve as a company secretary so long as he or she is not the only director of the company.
What are the duties of a company secretary?
A company secretary is beholden to keep company records and any other information confidential. He or she should not use any information at his or her disposal for direct or indirect personal gain. Likewise, he or she should not use any of these information to cause any damages to the company or any other person within the company.
The office of the company secretary must not be left vacant for more than six months at a time. At which time that a company secretary is not present, the company should appoint another person fit to fulfill these duties. This may be an assistant secretary or a deputy, or any other person in the company the directors see fit.