With the ever-changing principles and tightening Regulations of government, the role of company secretary Singapore is increasingly becoming more important. A corporate secretary monitors and manages the statutory obligations of the business. Accounting and Corporate Regulatory Authority ACRA regulates the Singapore companies. The authority is extremely strict in regards to law abidance. Each year, ACRA issues summons to an enormous number of businesses as against non-compliance matters. Ideally, corporate secretary Singapore is the individual that is held accountable for fulfilling the statutory obligations within the specified due dates decided by the authority. Additionally, he/she carries out the administrative actions of an organization. You may even outsource to specialist corporate secretarial services Singapore to promote good governance in your business. Many professional business incorporation services provide corporate secretarial service for an affordable fee.
Singapore Company Secretary: Qualification Criteria
There is no any stringent law that defines the Eligibility criteria for business secretary in Singapore private limited company. The director of a corporation can also play the part of corporate secretary unless your business has only 1 director. Following are the basic conditions which must be fulfilled to be a corporate secretary at a private limited company in Singapore.
Roles and Responsibilities of Corporate Secretary Singapore:
It is wrong to presume that the job of the Firm secretary is clerical in nature. The significance of a corporate secretary is in no way less than the directors and shareholders. He/she maintains the all administrative activities like paperwork and procedural issues. The corporate secretary service retains the necessary registers, send out notices, holds AGMs, general assembly, board meetings, keep minutes and so forth. He/she also assists the manager in promoting good corporate governance within the organization.
- Maintain, organize and update registers and minute books of the organization.
- Organize and host firm’s AGMs, board meetings, general meetings and note down minutes of their meetings.
- Meet the statutory obligations of the business and ensure compliance difficulties.
- Monitor the share allotments, problems, transmissions, and transfers.
- Accountable for safe custody and proper use of the provider’s seal.
- Maintain the supervisors informed about the upcoming due date for annual filings.
- Make sure that all official documents such as letters, documents, publications, and notices of this company mention the title and UEN Unique Entity Amount.
Make sure that all merger and acquisitions, restructuring, etc. are employed together with the provider’s best interests in mind.Guide and Help the directors, shareholder, officers and other members of the provider.Functions as a link between business’s management and employees.Most Importantly, the corporate secretary has a vital role in opening the bank accounts. When opening the bank accounts, the applicant must submit a Board of Director Resolution approving the opening of the corporate bank accounts. This record must be signed by both directors and company secretary. Additionally, the secretary assists the auditor in drafting the statutory audit of the firm.