Duty of a Singapore Company Secretary
singapore company secretary duties The company secretary of a company in Singapore has not many center duties (as part of established and best practices in compliance with the regulatory framework and regardless of whether these are referenced in the work contract), additional duties (as a representative in with the business contract), and certain fiduciary duties.
Center Duties of a Company Secretary
Status compliance with ACRA - filing of the company's annual accounts on time and maintaining the necessary registers; notice of share transfers, amendments to MAA, notice of removal or resignation of auditors, change of enlisted office address and any other regulatory prerequisite by ACRA
Board meetings - organize these meetings and facilitate the company's formal dynamic cycle
General meetings - arrange for the Annual General Meetings in compliance with the Companies Act and the company's constitution
Memorandum and Articles of Association (MAA) - guarantee that the company and the board of chiefs consent to this at all times
Duty related to shareholders - oversee share allotments, issues and transfers and deal with different matters affecting shareholdings and inquiries from shareholders
Duty related to non-chief company chiefs - act as a channel of communication and information for them
Corporate governance - assist the company chiefs in implementing great corporate governance practices within the company
Company seal - guarantee the safe care and appropriate utilization of the company seal
Company character - guarantee that all business letters, sees and other official publications of the company carry the name of the company and One of a kind Substance Number of the company
Overseas operations - Regulate the establishment of overseas operations of the company according to legitimate methods and laws
Acquisitions and disposals - guarantee all acquisitions, restructuring, consolidations and amalgamations and so forth are executed considering the company's wellbeing
Additional Duties of a Company Secretary
Generally, a company secretary is often expected to take on additional duties, which have been referenced in their business contract, depending on the individual's professional qualifications and work insight. These duties may be either legal, accounting/finance, human asset, general administration or general management in nature.
Fiduciary Duties of a Company Secretary
As referenced above, ACRA perceives a company secretary to be an officer of the company and in this way mandates the following fiduciary duties similar to the company chiefs:
always act in the wellbeing of the company
always avoid irreconcilable context
always carry out duties with reasonable care and stability
never make illegitimate profits from dealing personals for/with the company
Powers of a Company Secretary in Singapore
In Singapore, a company secretary is vested with the ability to authenticate reports or formal proceedings of the company. The person in question may be expected to execute official records with a company chief under the normal seal. Generally, a company secretary can give confirmed duplicates of company goals along with any one of chiefs, which is viewed as proof of passing of the goal.
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