The Malaysia Companies Act 2016 requires each company in Malaysia to have at least one company secretary. The Companies Commission of Malaysia (also called SSM) which oversees company incorporation in Malaysia requires the company secretary as the contact point for correspondence with any company operating in Malaysia.
Who is a Company Secretary?
The term secretary is usually used in reference to administrative work. However, a company secretary handles more than administrative work. A company secretary’s roles are largely related to legal matters.
The biggest responsibilities of a company secretary involves handling the company’s statutory books and streamlining procedural legal matters which touch the company. The company secretary is an officer of the company and as such, is involved in different issues regarding Finance, Accounts, Legal Administrations and Personnel Division.
A Malaysia certified company secretary has a wide job scope which includes preparing incorporation of the Company, handling public issues including listing of shares and debentures, maintenance of records, registers and minutes of the meetings, remunerations, processing applications for management appointments, inter-corporate investment and loans, and conducting both board and general meetings. This means that the company secretary is involved in a broad range of legal and procedural matters as per the Companies’ Act.
These legal matters touch on finances, personnel, contracts and so on. The board of directors mandates the company secretary to handle all the legal and procedural matters of the company as required by the Companies Act as well as any other law set by proper authorities.