Appointing a Company Secretary: What Must You Know

According to Section 171 (1AA) of the Singapore Companies Act, a Singapore-based company must appoint a company secretary within six months of incorporation and registration of the company.

Requirements of a Singapore Corporate Secretary

Guidelines of a company secretary is not stringent, but must meet the following requirements:

1.  Must be ordinarily resident in Singapore

(Singapore citizens, Permanent Residents or Entrepreneur Pass holders)

2.  Company secretaries must have sound knowledge and experience to discharge the functions of secretary of the company

For public companies, the corporate secretary should either a registered filing agent or a qualified individual. For private companies, any individual with a SingPass and ordinarily resident in Singapore qualifies as a company secretary.

3.  Must be above 18 years old

Role of a Corporate Secretary

Company secretaries have a rather wide job scope, such as the following:

Updating company information on ACRA

1.  Ensure particulars of directors are up-to-date

2.  Update if there’s any changes to the company name

3.  Share allotments, issue or share transfer

4.  Filing of annual returns within Corporate Tax filing deadlines

Providing administrative support in board meetings and AGMs

1.  Arranging for shareholder and director meetings in compliance with the Companies Act and the company’s constitution

2.  Attending and taking minutes of meetings

3.  Distributing company’s financial records

Maintaining the company’s statutory registers and records

1.  Preparing and maintaining minutes of AGMs and EGMs

2.  Lodging and filing all necessary documents required by law

Provide comprehensive legal and administrative support to the board

1.  Assisting in the implementation of corporate strategies by ensuring that the board’s decisions are properly carried out and communicated

2.  Keeping abreast of the latest statutory and regulatory obligations, and communicating to relevant stakeholders

Other tasks

1.  Providing consultation regarding accounts and basic Companies’ Act Compliance

2.  Ensuring that all business letters, notices and other official publications of the company carry the name of the company and Unique Entity Number of the company

3.  Supervising overseas operations if the company is operating out of Singapore, to ensure everything is in accordance to the law

The above stated points show the importance of having a competent and knowledgeable company secretary who always act in the best interest of your company.

Pro-Frontier provides professional company secretarial service in Singapore, get in touch with us here!

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