Is a company required to have a company secretary?

Private limited companies are no longer required to appoint a company secretary, unless a provision in the articles of association states otherwise. If you do not remove this clause from your articles, you are legally required to have an appointed company secretary at all times.

What are the responsibilities of company secretary?

A Company Secretary is responsible for the efficient administration of a company, particularly with regard to ensuring compliance with statutory and regulatory requirements and for ensuring that decisions of the board of directors are implemented.

What liabilities does a company secretary have?

How are the liabilities of a company secretary? The company secretary is protected by limited liability. However, limited liability may be lost is he/she fails to perform duties required under the Company Act 2006. In the main, he/she will only incur liability if the negligent acts were knowing or deliberate.

What are the rules of company secretary?

ROLE OF COMPANY SECRETARIES v Pursuant to section 383A of the Companies Act, 1956, companies with a paid-up share capital of Rs. Two crores or more are compulsorily required to appoint a whole time Company Secretary who must he member of the Institute of Company Secretaries India .

What are the key skills required for a company secretary?

6 Skills Required to be a Great Company Secretary

• The Company Secretary plays a pivotal role in organising the work of the board of directors.
• 1 Multitasking skills.
• 2 Organisational knowledge.
• 3 Planning skills.
• 4 An eye for detail.
• 5 Effective communication skills.
• 6 Sound judgement.

Is company secretary legally responsible?

A company secretary is responsible for ensuring the smooth administration of the company. They usually assume responsibility for the following important areas: compliance with corporate governance and other financial and legal regulations; management of shareholder administration and communication; and sometimes.

Can a company secretary be held personally liable?

A company secretary can held accountable for any breaches of the Companies Act, and in the same way as directors, may be held personally liable for financial losses incurred by the company or its creditors due to negligence.

What are the rights of company secretary?

Rights and Powers of Company Secretary

• He has the right to supervise and control the secretarial department of the company.
• He has the right to issue share certificate of the company.
• Being the principal officer he also has the right to sign official documents of the company.

Who should be a company secretary?

In case of a public company, its Company Secretary must be either a member of the Institute of Chartered Secretaries and Administrators; a Legal Practitioner; a member of the Institute of the Chartered Accountants of Nigeria or such other bodies of accountants as are established from time to time by an Act; any person …

Who is a company secretary What are his qualifications?

25 lakhs or more, and for those appointed by companies having paid up share capital of less than Rs. 25 lakhs. In addition, a company secretary should also possess certain general qualifications e.g. knowledge of trade, industry, banking and finance, accountancy, taxation, company law, and a good personality.

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