The initiation of the Internet has brought about a very strong DIY culture and the possibly wrong awareness that you can pretty much take care of anything yourself, with nominal expert guidance. This is predominant in the areas of company formation and legal compliance. Businesspersons are likely to use online services to integrate and take a progressively relaxed view of their statutory duties as directors. It is easy to overlook the importance of statutory compliance, particularly now that legislation introduced by the 2006 Companies Act makes it possible for a private company to appoint a company secretary. Though, for public companies, a company secretary remains required and is becoming an important advisory role with the focus on Business Governance and Board Effectiveness. So, many business owners should choose the corporate secretarial services in Singapore.
Outstanding Duties of a Company Secretary in Singapore
A company secretary is answerable for warranting the smooth administration of the company. They usually assume responsibility for some important areas like they compliance with corporate governance and other financial and legal regulations, and the management of shareholder administration and communication and delivery of tactical advice to the company’s board of directors. If the company does not employ a company secretary, these important tasks must still have happened. Here are some of the essential responsibilities of a company secretary in Singapore.
- He is responsible for modernizing and maintaining the statutory registers of the company.
- The company secretary must guarantee proper usage of the company seal
- The company secretary ensures that the company functions as per its structure
- He safeguards that the company maintains its accounts as per the laid rules and regulations. He is also accountable for filing the returns of the company with ACRA.
- The corporate secretarial services prepares the minutes of the company and reserves them as per the law
- He makes sure that every document of the company carries the name of the company along with the UEN
- The company secretary has the responsibility to file the various documents to the regulating authorities in a time-bound
- The company secretary ensures that the company, its officers, directors, and staff are assured.
- Various event-based compliances like a change in the company’s registered office, an alteration to the company structure, change in the director of the company, change in share capital, change in the name of company, charge formation, change in share capital, etc. must be answered by the company secretary.
Why Do Companies Need Company Secretary Services in Singapore?
A company secretary services assists a company in following the rules and regulations of ACRA and avoiding any non-compliance. By outsourcing the services to a good agency, the company saves itself from the stress and burden of looking into legal matters. Farm out the services will be money-making and they can also assist in the company formation in Singapore. The main benefit of outsourcing professional company secretary services in Singapore is to foreign organizations. So that’s way, a foreign company can get multiple benefits and assistance in various matters of the company.