The role of a company secretary has evolved over the years and is now most preferred in the capacity of an advisor to the company. The Board of Directors of a company is constantly dependent on the company secretary’s advice and guidance on legal issues regarding the company. So, in that case, a company secretary should familiarize himself with all the legislation and regulation that govern the company and he has to oblige to the following responsibilities:
Complying with Statutory Requirements
The company secretary is responsible for fulfilling all the statutory requirements by the Companies Commission of Malaysia under the Companies Act, 1965. He/she has to assist the company by being the official legal representative of the company. He/she has to update and communicate any changes in the company’s information to the Registrar of Companies.
Conducting and Handling Meetings
One of the most important roles of a company secretary is conducting and managing the Annual General Meeting (AGM) and other general meetings of the company.
- Booking and preparing the meeting room
- Taking the attendance at the AGM and also at other general meetings
- Preparing the agenda for the meeting and circulating the same
Being Well-Versed in Securities Law and Regulations
A company secretary in Malaysia should be thorough with all the security laws and regulations which govern the company. He/she should see to it that the right procedure is followed and is in accordance with the Companies Act of 1965 and the Memorandum of Association.
A Sense of Continuing Professional Development
Every profession requires continued learning - to be updated with the emerging trends in that field, likewise, even a company secretary in Malaysia or any other part of the world should keep learning and updating one’s knowledge about new rules and regulations, new reforms, changes in the corporate world.
- Handling any changes in the Memorandum & Articles of Association (MAA)
- Allotting shares, bonus, and declaration of dividends
- Maintaining and updating company details, like the list of directors and shareholders
Conclusion
Any Malaysian resident or a foreigner who is looking for company registration in Malaysia has to avail secretarial service to register his or her business in Malaysia. As mentioned earlier, every company in Malaysia should have at least one company secretary who should be a resident of Malaysia, a natural person and is a licensed member of the Companies Commission of Malaysia.
