The role of a company secretary is varied and essential to the successful management of any limited liability company. The multiple tasks they must complete are critical to successful communication and legal compliance. However, as of April 6, 2008, limited liability companies are no longer required to make an appointment at the time of registration and some of these responsibilities are no longer met.
Organizing regular board meetings is part of the broad responsibilities of a company secretary service Singapore. Holding a board meeting is an important way to make decisions in a company and keep up-to-date with the latest business-related issues. There are two elements to holding a board meeting: organizing the board meeting and recording it. It is important that all directors and eligible individuals are notified of the meeting details 14 days in advance. Regarding the recording of the meeting, it is required that the official minutes be drawn up and signed by the person who presides over the meeting. This will then serve as a record of our discussions and decisions that we make, which shareholders can request for reference.
Accounting and filing
There are a number of legal obligations that must be met during the business year of the company. The second set of day-to-day responsibilities relates to the record-keeping obligations that all businesses are subject to. Limited companies are required by law to maintain and maintain a company registers to ensure that the information is accurate and up to date. In addition to ongoing record keeping, there is also a need to submit invoices, statements, and other legal documents at Companies House. It is important that you know the specific filing dates of your company.
Changes within the company
This position can be considered important as it enables the company to make changes effectively, as well as keeping it in good health. For example, a limited liability company may attempt to transfer shares, either voluntarily to change ownership or by force due to the death of a shareholder. In such cases, a share transfer form must be filed with the appropriate authorities. Completing this form includes announcing the details of the transfer: who loses and receives the shares, the value of the shares, and signing the authorization.
Group of companies
Finally, the secretarial function of the company can be vital to the successful management of the group structure. They are responsible for the interaction between the subsidiaries and the holding company, helping to maintain the structure and ensuring that the administrative procedures are correct. There is often a high level of interdependence within such group structures and therefore a coordinating role is essential.
While several important corporate secretarial responsibilities have been highlighted here, it is important to note that their roles are varied and flexible. The office can be as important as an advisor to directors as it is in the administrative function of running a business.