Company Secretarial Services are not necessarily what everyone might immediately think of as the work of a secretary in the historical sense. In this context, it refers to the level of administrative function within a business that ensures good corporate governance, effective administration and compliance with legislation, laws and regulations that govern business and industry. This is a position which is a mandatory requirement of any listed company or PLC but a well advised and yet optional post within a Limited company of any scale that wishes to be well run and avoid statutory or regulatory issues in the performance of administrative tasks.
Effective corporate governance is essential for any businesses and most companies of any substance require the specialized knowledge and experience provided by a dedicated company secretary to ensure that the governance of the business is conducted correctly and providing a vital expert resource to the board.
Your company must adhere to the requirements set out within the Companies Act or respective national legislation for the company in which you operate.
A company secretary has the necessary training and experience to ensure that the company operates in compliance with the laws and legislation that governs the business and stringently maintain records, such as various types of registers, minutes and procedures governing meetings and many other similar statutory obligations.
The role of a Company Secretary
In theory, a company secretary’s duties include all necessary administrative tasks within a company. But broadly, their role consists of three areas: the board, the private company and the shareholders.
They must ensure that the necessary paperwork is provided to the board members ahead of meetings and that board procedures are abided by. The secretary is responsible for ensuring compliance with legislation and that company activity is carried out in a way that ensure that is it validly conducted within the law.
They are usually the point of contact for shareholders on matters regarding corporate legalities and may also act as the company registrar.
In general, the secretary will be a key contact for shareholders, dealing with the transfers of shares and any queries which they have. They assist the board in preparation and paperwork arising before and after board meetings, such as informing all directors of the time, date and location of the meeting, producing agendas, taking minutes and producing a document at the end of the meeting and informing the appropriate people of any decisions made during the meeting,
The secretary will also support the Chairman and board during general meetings involving shareholders, ensuring that the meeting is conducted in accordance with the respective laws governing the process and procedures concerning shareholder meetings.
In most cases, the secretary will work with the company lawyers or will themselves provide a broad legal knowledge that enables the company to execute decisions taken at meetings in full compliance with regulatory obligations including filing any decisions and any supporting documents which may be required to put the decision into effect.