Responsibilities Undertaken by a Singapore Company Secretary
Although private companies are no longer required to appoint a formal secretary, these services are still needed to be carried out in both public and private companies. Despite this, a large number of people at times overlook this important area of company law and believe it to be just an administrative burden with little real effect.
However, the truth is totally the opposite. Appointing a company secretary in Singapore can be extremely beneficial for your business since he undertakes a wide range of responsibilities for an organisation. Out of multiple tasks that he performs, a few core ones include the following:
The secretary is responsible for maintaining the statutory registers, such as the register of members, for a company. This document comprises of information related to who owns the company. It is the register of members at Companies House that determine this and not the share certificate or the records or a contract. In a large number of situations, poorly maintained records have resulted into confusion as to who is the owner of the company and has eventually lead to disastrous consequences.
Professionals delivering secretary services offer consistent guidance and advise to directors on chief aspects of company law. This will usually comprise of the needs for declaring a dividend, decision making and issuing new shares. Without this professional advise, the actions taken by the directors might be invalid, illegal or possibly criminal in nature.
Effective corporate governance deals with ensuring that the organisation is operating as it should and shareholders’ interests are carefully protected. Company Secretary Services when delivered professionally help ensure that the decisions taken by the directors and their engagement with the shareholders is legal.