Companies appoints a secretary to assist in the administration of a company. Company secretaries are officers of a company and have certain responsibilities to fulfill. Only public companies are required to appoint a properly qualified person as a company secretary.
Every company is required by law (S171) to appoint a Company Secretary. In a single director setup, the company must appoint a separate natural person who is ordinarily resident in Singapore as a company secretary. In a multi-director setup, the company may appoint a third party, or one of the local directors to be the Secretary, so long as he or she can competently discharge the duties and responsibilities of a company secretary.
What does a Company Secretary do?
The essential role of a company secretary can encompass the following:
- Maintain statutory registers of the Company
- Prepare and ensure timely lodgement of Returns that needs to be filed with the Authority
- Prepare minutes of Directors’ and General Meetings
- To facilitate compliance with statutory requirements like filing of Annual Returns
- To facilitate the safekeeping of the Company Common Seal
- To provide proper advice to Director and Shareholders in relation to their legal obligations and rights under the Company Act as well as the Memorandum and Articles of Association of the Company.
Advantages of appointing a Secretary from Service Providers like ContactOne
You get complete ease of mind and can focus on your business without worrying too much about legal and regulatory compliance on an intricate level of understanding. However, you still need to be aware of your obligations because ultimately, you will be responsible for the meeting of deadlines. Enter Service Providers like ContactOne who are able to take charge, advice and monitor the small details for you to meet your compliance.