The Legal Requirements For A Company Secretary

THE LEGAL REQUIREMENTS FOR A COMPANY

Under section 171 of the Companies act, it is mandatory for all the companies in Singapore to hire a company secretary. A cheap company secretary in Singapore ensures that your company must comply with Singapore company law.

The company secretary plays a number of vital roles as an officer, advisor, and fiduciary to the company, shareholders, and board members. The secretary ensures the success of the company in Singapore. But without the proper knowledge, you are not able to hire a competent secretary for your company. There are some legal requirements that you need to fulfill.

Legal Requirements Of A Company Secretary

• It is mandatory for companies to hire a secretary within 6 months from the date of Company Incorporation.

• The person you are hiring for secretary must be a natural or resident of Singapore.

• The position of a company secretary must not be vacant for more than 6 months.

• Make sure the sole proprietor of the company and the company secretary must not be the same person.

• Private companies don’t require to hire a professionally qualified company secretary, but public companies must require to appoint a qualified company secretary.

Procedure Of Appointment For Company Secretary

• First, you need to convene a board meeting to provide a notice to all the directors and pass a resolution to hire a company secretary.

• You need to file DIR-12 and MGT-14 forms within 30 days of the date of appointment to inform the registrar of the company about the company secretary’s appointment.

• After the appointment of a company secretary, you need to maintain the registrar properly of directors, make necessary entries and key managerial personnel.

• In the case of a listed company, you have to inform the stock exchange where the company shares are listed.