Appointing a Company Secretary in SG
In Singapore, private limited companies must appoint a secretary within 6 months of incorporation. Some businesses consult professionals for secretarial services Singapore.
This role can be fulfilled by any Singapore resident such as Singapore citizen, permanent resident or a resident with an employment pass. They must also be above 18 years of age.
Role of the Company Secretary
This is the main role of secretaries. They will carry out administrative tasks such as being in charge of any compliance work related to ACRA, making sure that the company meets its deadlines.
Meeting minutes for annual general meeting (AGM) and extraordinary general meeting (EGM) must be prepared. They are also responsible for the management of the company shares such as the share transfer and the maintenance of the shareholder register.
Company secretaries are expected to give their knowledge and advice. They have to communicate with directors and shareholders and provide them with information about the company to come up with strategies and for decision-making.
Another important role would be their fiduciary role to the company. They have to act in the best interests of the company and prevent or avoid any potential conflicts of that could arise.
Duties of the Company Secretary
- Board meetings – organize these meetings and facilitate the company’s formal decision making process
- Duties related to shareholders – supervise share allotments, issues and transfers and deal with other matters affecting shareholdings
- Company seal – safe custody and use of the company seal
- Company identity – ensure that all business letters, notices and other official publications of the company carry the name of the company and Unique Entity Number of the company
- Maintaining of Statutory Registers – update statutory registers such as the register of substantial shareholders, register of charges and members
- Company Insurance – ensure that there is enough insurance cover for all directors, officers and the company staff
- Event Based – file documents with authorities based on various events