Discover the Key Roles of Company Secretary Singapore

Discover the Key Roles of Company Secretary Singapore

When you are going to start your business in Singapore, a competent company secretary is an essential asset for your company. It is now stated by corporate law that it is made mandatory for every enterprise to have its Corporate Secretary Singapore!

When it comes to the company secretary role, it's vital to understand!

Company Secretary is a professional role that provides administrative and legal advice to companies in the Singapore jurisdiction. In addition, they are responsible for ensuring that the company complies with all the legal and regulatory obligations imposed by Singapore's Corporate Law.

This has a wide range of responsibilities and plays a critical role in ensuring the smooth running of the company.

Want to know more? We have mentioned the key roles of the company secretary!

Key Role of the Company Secretary

The company secretary has a wide range of duties and responsibilities to fulfil for the company. So, they often play multiple roles within the company.

Below, we have listed the main roles that a company secretary plays!

Role of Company Consultant 

The company secretary has extensive knowledge regarding legal, compliance framework, and internal governance. So, many companies often ask for their advice. In addition, they communicate with directors and shareholders to provide information related to the company.

This information is used to develop strategies and also complement the decision-making process. The advice provided by the company secretary ensures your company conduct its business in a legal and compliance framework.

Role of Company Trust

There are only a few people know that the role of the company secretary is the trust of the company. Therefore, they should sincerely take the best interests of the company. Also, avoid or disclose any conflicts that may arise.

The company secretary must work in accordance with the companies act and the company constitution.

Administrative Role

An administrative role is the primary role of the company secretary. This role includes some significant business-related tasks, such as recording, contracting, settling, clearing, and many more.

Below, we are mentioning some key things to better understand the role:

  1. It includes stamp duties or tax filing deadlines etc., in adherence to IRAS.
  2. Any changes that occur in administrative tasks such as shareholdings, company profile, directorship, etc.
  3. It also ensures company compliance in accordance with ACRA.
  4. They provide assistance on operational matters such as how to open a bank account, license requirement, etc.

These things will surely help you to understand an administrative role!

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Fiduciary Role

If any fiduciary duty breaches, a company secretary will be responsible for this. You can expect some essential things from a company secretary:

  1. They make sure there is no conflict of interest in the company
  2. With care and diligence, they fulfill their duties
  3. No secret profile should be maintained while carrying out the function
  4. There is no need to act beyond the authority which is provided by the law
  5. They are responsible for not revealing any confidential information and trade secret of company

These are the crucial things that will help you to understand this role!

Now you are aware of the roles of the company secretary. Let's get to know the responsibilities performed by the company secretary!

Crucial Responsibilities of Company Secretary

We have curated the list of crucial responsibilities which is performed by the company secretary!

Any Update and Filing of the Company with ACRA

  1. Company employee appointment, resignation, or death
  2. Director of company particulars updation
  3. Annual return filing of the company
  4. Allotments share and shareholder transfers
  5. Modification in the company constitution
  6. Changes occur in the company name

Maintenance of Statutory Registers

  1. Maintain every meeting minute book
  2. Issue of shares
  3. Company account distribution and annual report
  4. Signboard resolution lodging

Preparation of Board Meetings and AGMs

  1. Prepare company distribution financial reports
  2. Maintain meeting minutes and attendance
  3. Build meeting agenda
  4. Prepare the director's resolution

Miscellaneous Responsibility

  1. Send filing deadline reminders
  2. Maintain relations between shareholders
  3. Make sure the company seal is secure and used properly
  4. Monitor the shareholder's register and movement

Conclusion

The company secretary role is a key aspect of any business. They will help you to maintain the integrity and compliance of your business.

Here at BT Consultancy, we provide reliable corporate secretary services at every stage of business growth. We are determined to help your company to reach its maximum potential. Our professional team will help you find a competent company secretary that fulfils all your business-specific needs.

You can discuss your business needs with our team members. In case you are looking for Company Incorporation Singapore service, we will help you out!