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types of company secretary in company law


Privacy Policy 8. (c) To file, with necessary registration fee for registration of the company and filing fees for the documents, with the Registrar of Companies, a copy of the Memorandum of Association and a copy of the Articles of Association, with necessary stamps affixed. Other statutes, apart from the Companies Act, like the Stamp Act, the Registration Act, the Income-tax Act etc., also come in the picture. Whenever any-one, whether known or unknown to the company, wants to communicate with the company, he either addresses through correspondence or directly meets the Secretary. The duties of a Company Secretary as advisor has special significance as they are mostly concerned with legal formalities. The third document is required for a widely held public company only and actually after incorporation. All these documents have to be printed and paragraphed with each paragraph serially numbered. (b) To file with the Registrar of Companies, in case of a closely held public company, a Statement in lieu of Prospectus showing the allotment of shares, at least 3 days before the allotment. 2. For this purpose either they can take the help of a lawyer or they appoint a secretary with necessary qualifications with the intention that the same person shall be formally appointed as secretary of the company after its incorporation. (i) Copies of audited final accounts and Annual Return after the end of every financial year. CSSA is the only body dedicated to the advancement and recognition of professional administration. These can also be called Routine duties because a company appoints a secretary mainly for this purpose. (j) To execute the orders and instructions of the Central Govern­ment, the Registrar of Companies, the Company Law- Board, the Court etc., as and when required. Classification of Duties. Download Company Law PDF notes. Immediately after receiving the Certificate of Incorporation from the Registrar of Companies, the Company Secretary has the following acts to do: (a) To arrange for the first meeting of the Board of Directors of the company for various preliminary formalities including his formal appointment with retrospective effect (i.e., since the date of his appointment by the promoters), finalizing the form of Share Certificate, approval of Prospectus (in case of a widely held public company), appointment of bankers, first auditor etc. Your IP: 211.14.175.53 (This can be done within 30 days from the date of registration.). These are the concept of Legal personality: A company must be treated as a person in its own right. Mature entry: Subject to approval. (b) To draft the necessary documents according to the require­ments of the Companies Act. Accredited by CSSA and SASSETA   |   Excellent career opportunities   |   0861 111 556. Such duties are non-statutory and often described as Routine and Executive duties of a Company Secretary. He has to assist the Board of Directors also, as required in the circumstances and maintain liaison with the members, creditors, contributories, the Registrar of Companies and others concerned. This can only be achieved by a genuine governance professional. The course is offered at the following campuses: Cape Town, Johannesburg, Pretoria. and the public at large on the other. The Board of Directors confer special authority on the Secretary for the purpose. After reading this article you will learn about: 1. Despite the name, the role is not a clerical or secretarial one in the usual sense. After incorporation of a company, its secretary has a variety of duties to perform. The four modules must include: For more information and assistance with fees & application forms please contact the Student Enrolment Officer at the campus you wish to study at. Practically, the Secretary functions as an agent of the directors of the company who are the agents or the company itself. Content Guidelines 2. Commonly, a large number of duties are delegated to him together with authority and responsibility by the Board of Directors of the appointing company. (3) At the time of any arrangement (under compromise, amalga­mation or reconstruction or take-over bid by one company on another) in the company as applied for to the Court by the company itself or members or creditors, the secretary has elaborate duties for preparing records and statements, arranging meetings as directed by the Court, making circulars etc. As a secretary, a Company Secretary has all the duties which a secretary should have. Company Secretaries are the primary source of advice on the conduct of business and this can span everything from legal advice, through accounting advice on financial reports, to the development of strategy and corporate planning. Image Guidelines 5. Before incorporation or rather for incorporation, a Company Secretary has to assist the promoters in the following manner: (a) To maintain liaison with the Registrar of Companies of that State, particularly to ascertain first whether the proposed name of the company is available. The Act, however, does not systematically describe the duties of a Company Secretary. This is a very important function because a company must have a common seal bearing its name which has to be used very carefully on legal documents. Membership provides a record of accountability, which is priceless if you are working in the modern Corporate Governance environment. Chartered Secretaries command excellent salaries, but the key to getting these top jobs is the appropriate work experience and the maintenance of records of personal integrity and ability through membership of the Institute. A company secretary is a senior position in a private sector company or public sector organisation. A Company Secretary is generally the chief executive in the office having general supervision and control over the functions of all the departments of the office of the company—correspondence, accounts, records, public relations etc. (c) To file with the Registrar of Companies, in case of a widely held public company, a copy of the Prospectus and to arrange issue of the Prospectus to the public. In this article, we will discuss the existence of Company Secretary under the Companies Act, 2013. (ii) Copies of some specific resolutions. (g) To inform the Registrar of Companies, in order to receive the Certificate for Commencement of Business (necessary for a public company), the facts that (i) the minimum subscription has been raised and (ii) the directors have paid for their shares. Strategic and Operations Management/ Auditing. The Company Secretary has to assist a company at every stage by virtue of his specialised knowledge, qualifications and experience. The Act also provides that the Secretary, as an officer of the company, has legal obligations to assist the Official Liquidator and to carry out the orders of the Court, if any, in the process of winding up. Whatever may be the extent of the duties it shall be noted that the duties of a Company Secretary have two distinct aspects: (b) Duties qualified by the provisions of Company and allied Laws. Such duties can be studied in a further classified manner. He is responsible to maintain the standard of performance of the office staff as well as office discipline. The Companies Act provides elaborate formalities for its formation, its continuance and it’s winding up. (f) To attend all the meetings of the promoters and to assist them in arranging and conducting the meetings. Company Secretaries are the company’s named representative on legal documents, and it is their responsibility to ensure that the company and its directors operate within the law. (h) To make arrangement for allotment of shares and issue of share certificates and to prepare the Register of Members containing the details of the members and their share holdings. In a rapidly changing, increasingly complex business environment, employers and investors are demanding that those charged with governance responsibilities have the skills and expertise to promote excellence in corporate conduct and administration. The duties or functions of a Company Secretary are multifarious or many and varied. They have to ensure compliance in the following areas: corporate governance and conduct, compliance with legal, regulatory and listing requirements, training and induction of non-executives and trustees and contact with regulatory and external bodies. Company Secretaries oversee the efficient administration and compliance of a company. Click here to Purchase Company Law notes PAPER NO.7 COMPANY LAW GENERAL OBJECTIVES. Duties arise out of rights. Plagiarism Prevention 4. The Company Secretary is qualified by examination and membership of CSSA. This is true for a Company Secretary. The CSSA programmes are registered as professional qualifications on the NQF as follows: Our life-long career support package will help ensure that you become a highly qualified specialist – whether in the public, private or non-profit sectors. The Company Secretary has the following duties in this respect: (a) To maintain the Members’ Register making all the necessary changes from time to time arising out of transfer, trans­mission, forfeiture, surrender or fresh issue of shares. Companies and Partnerships Compared (a) A company can be created only by certain prescribed methods - most Appointment of a Company Secretary has been one of the most talked topics in the … What does a Company Secretary do? if they have passed 4 modules at Grade 12 level, or Senior Certificate or GCE “O” Level. A company is a "corporation" - an artificial person created by law. The Prospectus shall be signed by the directors and by an ‘expert’ (any dependable person). The Companies Act provides models for the drafting of the documents: (i) Table A—A model for the Articles of Association of a company limited by shares. A company is a "legal" person. The remaining two modules must be of either an academic or commercial nature. Company Secretaries occupy senior roles within organisations and have high level responsibilities. If you are at an office or shared network, you can ask the network administrator to run a scan across the network looking for misconfigured or infected devices. Southern Africa is in a period of dynamic change and growth and opportunities in the rest of Africa and Asia become more apparent every day. (b) To assist the Board of Directors in respect of transfer forfeiture or surrender of shares as well as in making calls on shares, issuing rights shares or bonus shares and issuing share certificates and share warrants, if any. Cloudflare Ray ID: 5e6951f60d3bdb10 In many countries, companies have traditionally been required by law to appoint one person as a Company Secretary, and this person will also usually be a senior board member. Before publishing your articles on this site, please read the following pages: 1. Another way to prevent getting this page in the future is to use Privacy Pass.

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