Complete Details about Company Secretary – Roles and Responsibilities

Complete Details about Company Secretary – Roles and Responsibilities

Over the past few years, there has been an increase in demand for company secretary courses! Furthermore, the company secretary course is quite challenging. Besides being prestigious, a career as a Company Secretary is also financially rewarding and provides a high level of job satisfaction. In most workplaces, job satisfaction is seen as a luxury that employees strive to achieve. A career as a Company Secretary certainly provides it.

An expert in corporate, securities, capital market, and corporate governance, the Company Secretary is the Company’s in-house legal expert. Company Secretaries provide services in a variety of fields including:

  • Services related to corporate governance and secretarial matters
  • Advisory and representation services in corporate law
  • Providing management services
  • Market Services for Financial Markets

The company secretary will often be required to perform additional administrative duties, as is the case with every responsible person. The following are typical examples:

  • Insurance
  • Administration of share schemes
  • Company pension scheme
  • Intellectual property

How important is the Secretary to the Company ?

A Cadbury Report from 1993 emphasized the importance of the company secretary:

It is the responsibility of the Company secretarial to ensure that board procedures are followed and regularly reviewed. Under the rules and regulations to which the chairman and board are subject, and on how these responsibilities should be discharged, the company secretary will provide guidance to them. The company secretary should be able to provide advice and services to all directors, and the chairman should receive strong support from the company secretary to ensure the board’s smooth functioning.”

Since corporate governance has gained more attention in recent years, the role of the company secretary has become increasingly important. In many ways, the secretary is now seen as a “controller” to ensure that the company properly complies with the law and best practices.

Roles and responsibilities of a Company Secretary:

The CS appointed through a organisation should carry out the subsequent capabilities as furnished in Section 205 of the Act:

  • Report to the board of administrators approximately the compliance declaration of the organisation.
    Ensure that the organisation is complying with all secretarial standards.
  • Do all such different responsibilities as prescribed through the organisation board of administrators from time to time.
  • Duties of a Company Secretary

Rule 10 of the Rules affords the responsibilities of the CS, that are as follows:

  • Provide the organisation administrators steerage as they will require regarding their powers, responsibilities and responsibilities.
  • Facilitate the convening of meetings, attend general, board and committee meetings, and preserve the mins of those meetings.
  • Obtain approvals from the overall and board meetings, government, and different required government as furnished below the provisions of the Act.
  • Represent earlier than numerous regulators and different government below the Act related with the release of responsibilities below the Act: https://www.mca.gov.in/Ministry/actsbills/pdf/The_Companies_Secretaries_Amendment_Act_2006.pdf
  • Assist the organisation board withinside the behavior of the organisation affairs.
    Advice and help the board in complying with the company governance requirements, making sure proper
  • company governance and quality practices.
    Discharge such different responsibilities as exact below the Act or rules.

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