The Role of a Company Secretary in Singapore: Understanding the Responsibilities and Requirements

A Company Secretary is critical in ensuring that the company complies with the relevant laws and regulations. The Company Secretary serves as a bridge of communication between the company’s directors and shareholders and the regulatory authorities. They also help to ensure that the company maintains proper corporate governance and complies with its statutory obligations.

The appointment of a Company Secretary is a legal requirement for all companies in Singapore. Every Singaporean firm must employ a company secretary to oversee compliance with Singapore’s Company Law, per Section 171 of the Companies Act. The office of a Company Secretary is critical in ensuring that the company complies with its legal and regulatory obligations. The Company Secretary serves as a bridge between the company’s directors and shareholders and the regulatory authorities.

One of the key reasons why a company needs a Company Secretary is to ensure compliance with the Companies Act and other relevant legislation and regulations. The Company Secretary is responsible for maintaining and updating the company’s statutory registers and records, filing the company’s annual returns with the relevant regulatory authority, the Accounting and Corporate Regulatory Authority (ACRA), and ensuring that the company’s resolutions are properly recorded and filed with ACRA.

The best way to understand the importance of a compliance professional is to think of market competition as a field game. If the player breaks the rules and nobody notices, the game goes as usual. The key factor here is knowing how far from the line the player may stray before being reprimanded for his actions. That is where a Company Secretary may offer valuable insights on compliance and effective corporate governance requirements to keep the business competitive and maintain compliance with all applicable laws.

In addition to statutory compliance, the Company Secretary also plays a key role in ensuring proper corporate governance. The Company Secretary advises the board of directors on corporate governance matters and helps ensure that the company adheres to best practices in this area. The Company Secretary also keeps the board and management informed of any changes in regulatory requirements.

Another reason why a company needs a Company Secretary is to manage the administrative functions of the company. For example, the Company Secretary is responsible for organizing and attending board meetings and annual general meetings, drafting and circulating board and shareholder resolutions, maintaining the company’s minute book, and coordinating the company’s share transfers.

A Company Secretary is critical in ensuring that the company operates efficiently and competently. Without a Company Secretary, the company may be at risk of non-compliance with legal and regulatory requirements, which can seriously affect the company and its stakeholders. As such, it is important for companies to appoint a qualified and experienced Company Secretary who is capable of carrying out the responsibilities and obligations of the position effectively.