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.