Singapore Secretarial Roles: Here Are Things That a Company Secretary is Liable for in Singapore
In the basics, we could say that there are two reasons for it being compulsory to hire a company secretary in Singapore. One is to help a company foster; everyone should know how important it is to have a secretary in an office. Another is the government’s wish to make the business in the city-state more systematic and productive. There are some legal requirements that a company in Singapore should fulfill while operating, and all of them are to be coordinated by the secretary.
Some jobs have been allocated for the secretary by the Singapore Company Act, and these are the things that a company secretary is liable for in Singapore.
ACRA filings are the first thing that a company secretary is liable for in Singapore. He/she will be held liable if these notices haven’t been filed or updated to the ACRA.
- Appointment and the resignation/ removal of the company executives including the directors,
- CEOs, other secretaries, and auditors.
- Preparation and the Filing of Annual Returns With the ACRA. This has to be done in every YA of the company.
- The changes in the company name.
- Changes in the share capital.
Maintaining Statutory Registers
This is the other thing that a company secretary is liable for in Singapore. They have to maintain the following registers in a company.
- Register of shareholder information
- Register of company charges
- The register containing information about the company associates including the director, secretaries, CEOs, Auditors
- Register of Nominee Directors information and the Director’s information about Shares or Debentures
- Minutes Book
- Register Of Controllers
The company secretary is liable if any of these documents (or more, depending on the company) are missing or misleading.
Organizing and assisting in the company meetings also is a secretary’s duty, and they help with the director’s meetings and Annual General meetings. Here are the things that a company secretary does for a meeting.
- Prepare and issue meeting dates and schedules
- Prepare meeting agendas.
- Distributing reports.
- Preparing board resolutions of the conclusion of the boards of directors meeting.
- Be the one to coordinate voting if they take place in the meeting.
A company secretary is liable for in Singapore for the business meeting organization. Also, they should be able to assist in making sure that the meeting has its full effects and produce results. Here are some things that he/she might do to help the meeting be productive.
- By providing advises insights or opinions to the directors.
- By taking notes and keeping them safe for future reference.
- Help with preparing and providing documents needed during the meeting.
Office secretaries also have various other responsibilities as per the company needs. As a result, they can be liable for not fulfilling their corporate duties. Because secretaries have many things to do in a company, and it goes without saying that you need to hire an energetic person as your office secretary. To make sure that you get the best secretarial services heading into becoming a successful business in Singapore, you should consider working with an office secretarial service. Why? Because they are experts and their services are not expensive. Contact us for more information.
Chai Chung Hoong, Account Manager
Chai Chung Hoong will assist you in all accounting related services, and help your company in digital transformation.Contact Us