A couple of days in the past, I obtained an inquiry from a number of working ladies who needed to enterprise into some business. They needed to search out out about details about organising a personal restricted company or Sdn Bhd. One very attention-grabbing query from them was “Why do we want a Company Secretary?”
From that second on, I’m fairly positive many individuals on the market are very inquisitive about the identical query and right here, I wish to share with you, the duties and tasks company secretary in hong kong.
The Company Secretary
Each restricted company will need to have a minimal of 1 Company Secretary, in keeping with Part 139 of the Corporations Act, 1965. The its appointment is set by the administrators of the company.
To qualify as a Company Secretary, she or he should be both a member of an expert body permitted by the Ministry, or a licensed secretary granted by the SSM. Additional, the particular person should not be a bankrupt and isn’t convicted of any offence beneath Part 130 (1) of the Corporations Act.
Statutory duties of a Company Secretary
His/her statutory duties as required by the Corporations Act are usually as follows:-
1. Must be current in any respect company conferences and recording minutes of the assembly. On this context, company conferences are primarily referred to administrators’ and shareholders’ conferences. Operational conferences don’t require a company secretary’s attendance.
2. Preserve and preserve all of the statutory books and data of the company, ie. Minutes ebook, register ebook, share register and so on.
three. Guarantee correct submitting of all crucial returns with SSM reminiscent of annual return, types and so on.
four. Concern notices of conferences to shareholders as directed by the board of administrators.
5. Course of share transfers documentations and recordings.
6. Countersign important company paperwork and certifying paperwork for sure issues reminiscent of banking issues and so on.
7. Guarantee protected custody of company seal.
Liabilities of a Company Secretary
Given the truth that a company secretary is an officer of a company, similar as the administrators, she or he has fiduciary duties to carry out for the company. She or he is requires to behave truthfully and in good religion.
He/she is personally liable to felony expenses is she or he commits wrongful acts, and can be penalized with a tremendous. Wrongful act is so simple as failure to lodge the annual return to SSM.