Roles and Responsibilities of a Company Secretary
A company secretary upholds a wide range of roles and responsibilities in a company and some of the core duties are highlighted below.
- Understanding the Company
The appointed company secretary will need to first and foremost learn how the company operates. Not limited to that, the secretary would also need to dive deep in the organisation of the company to fully understand all the moving pieces in the business operations. By doing this, the company secretary will be able to grasp the extent of the company fully. As the role of a company secretary is an important one, they will need to understand all the ins and outs of the company.
- Ensure Compliance with Statutory Requirements
The company secretary acts as an official liaison officer for your company as they are the bridge between the company and the Companies Commission of Malaysia or known locally as Suruhanjaya Syarikat Malaysia (SSM). Under the statute of Malaysia’s Companies Act 1965, the company secretary will assist in the preparation and submission of company’ statutory returns to SSM.
- Preparing Minutes, Resolutions and Attend Meetings
The company secretary is required to attend Board meetings or general meetings and is responsible for taking the meeting minutes. They will be present in the meetings to attend to Board members at the office and is relied on providing advice to the members of the company as well as other senior officers in the company.
A company secretary is to prepare resolutions by way of circular resolutions whenever needed by the Board or its members. Another major responsibility of the company secretary is to prepare and file the Annual Returns of the company to SSM.
- As an Advisor to the Company
In general, company secretaries are present for general advisory services to make sure that all company records are kept and updated properly in accordance with the current legislation in Malaysia.
- Other duties
A company secretary also works on other random support services such as:
- Transferring of company shares, certificate splitting for shares and creating copies of share certificates.
- Preparing documents and authorising changes in name of the company or changes in directors.
- Certification of documents
- Preparation of official documents required under the Companies Act 1965
To conclude, a company secretary upholds a wide range of responsibilities. By being the senior corporate officer, the company secretary acts as the focal point for communication with the company’s main stakeholders such as the board of directors, shareholders and senior management.
A company secretary plays an important role in an organization as the prime duty is to oversee the statutory compliance of the company. The role of a company secretary is as important as the other top-tier officers in the organization. This role is in addition to the company secretary playing a key role in the administrative tasks relating to corporate matters. Generally, the company secretary is considered as a confidant of the company and counsellor to the directors and members of senior management.