Having a Company Secretary as part of Legal Compliance
ACRA stipulates that every company must appoint a company secretary within 6 months of its incorporation. The company secretary will be the primary officer in charge of numerous administrative and reporting responsibilities a company is required to adhere to by law. These statutory requirements include the filing of annual return, and recording and filing of board resolution.
Typically, companies engage the services of a corporate secretarial firm in Singapore to provide them with corporate secretarial services. A corporate secretarial firm will provide the hiring company with a named company secretary.
Here are the various responsibilities and roles of a company secretary that ensure legal compliance for your company.
- Director’s Resolutions in Writing pertaining to matters such as opening bank accounts, registered office, interim dividend, loan facility, etc
- Annual General Meeting including application for extension to hold the Annual General Meeting of the company
- Submission of statutory returns with the Registry of Companies
- Updating of statutory records
- Monitoring the filing deadlines of the statutory returns with ACRA
- Attending to auditors
- General corporate secretarial consultation
- Change of company name
- Change of principal activities
- Change of articles of the MAA
- Filing of Financial report in XBRL format with ACRA
In a nutshell
The roles and responsibilities of the company secretary might seem easy but there are definitely various regulations and legal requirements involved. Thus, it is highly important that the position is filled by someone who is able to handle of the requirements and keep all records accurately. In Singapore, it is a viable option to seek the services of professional accounting and legal consultants who would be able to undertake the role of company secretary. They would to provide consulting services to clients for updated knowledge on the requirements of any company secretary in Singapore.
Contact us to learn more about our corporate secretarial services.