Responsibilities of the Company Secretary
A Company Secretary is basically a person who holds the senior position in a company, both private and public. Having the position is equivalent to that of a manager, a Company Secretary ensures smooth and efficient administration of their company.
Belonging to a recognised professional accountant’s organisation.
Belonging to a recognised Corporate/ Chartered secretaries.
Degree in Master of Business Administration or Commerce.
Graduate in Law, from a recognised university with work experience in the same.
For single member Company – having bachelor’s degree from a known university.
Powers and Rights:
A Company Secretary has the power to sign the statutory returns and applications. He/she has no special right but is limited to their tenure of contract.
Duties of the Company Secretary:
The “employment contract” states the duties of a company secretary which are as follows:
1. Secretarial duties:
To ensure if all the rules and laws made by the company are strictly followed.
To check business done by the company, as well as other affairs, adhere to the objectives mentioned in its Memorandum of association.
Consulting the Chairman and setting the agenda for all the meetings of the board of directors, including the general, annual and the extraordinary general meetings.
To organise and attend meetings of the board and preparing accurate documentation of proceedings, fulfilling all legal requirements.
Conduct matters related to the allotment of shares and issuing of share certificates. This will also include maintaining the statutory Share Register and carrying out activities associated with share transfers.
Preparation, approval and signing and sealing of agreements leases, and other official documents including the legal forms. This duty is given by the executive of the company.
To give advice in legal matters to the executives of the company.
Defending the rights of the company in the Court of Law by seeking help from legal advisors.
Take custody of the seal of the company.
2. Legal obligations:
To fill forms and returns as per the norms and requirement of the Companies Law.
Cross-check the legal requirements required for the allotment, issuance and transfer of share certificates.
Not only discussing various matters with the directors but also implementing the policies framed by them.
Handle dealings done between the company and shareholders.
Ensuring timely payment of the dividend adhering to the provisions mentioned in the Companies Law.
3. Maintenance of statutory books:
The Secretary maintains registers that include information of members, directors, shares, contracts, investors and share-holders, mortgage, deals etc. and such data that is important for the company.