Talking about the secretary of a Malaysian company, this particular role holds a key position in creating as well as operating a company in Malaysia. According to the Companies Act 1965 (section 139A of), it’s obligatory for a company to hire a qualified company secretary.
What is the Qualification of Company Secretary?
- A person having any of the below qualifications is eligible for becoming a company secretary.
- A Chartered Secretary registered with MAICSA (Malaysian Institute of Chartered Secretaries and Administrators)
- A Chartered Accountant who is registered with the MIA (Malaysian Institute of Accountants)
- A Licensed Secretary who is licensed by Company Commission of Malaysia
- A Lawyer registered with Malaysian Bar
What are the Roles and Responsibilities of a Company Secretary?
- A company operating in Malaysia employs the company secretary (Co-Sec). Such a role involves a variety of responsibilities.
- Some of these roles include:
- A company secretary needs to comply with advisory and statutory requirements
- Attend meetings and prepare resolutions of both board and members
- Keep the company’s statutory books and records in an up-to-date condition
- Maintaining regular communication with the shareholders
- Compliance with statutory requirements and advisory
The corporate secretary must ensure that all the operations of a company are within the ambit of the Companies Act 1965. He/she should update the SSM with any change in the statutory information of the company.
For this purpose, the secretary must submit the completely filled forms that are prescribed by the law. These forms should reach the company’s registrar within a given period. Moreover, the secretary must advise the director/s regarding annual meeting of the company.
- Attend meetings and prepare resolutions of both the board and members
The secretary must take part in almost every board meeting. Furthermore, corporate secretarial services malaysia also include advising the director/s on secretarial matters.
In addition, the secretary is also required to send notices and circulars and stay in contact with shareholders when taking care of the company’s matters.
One of the most essential company secretarial services is the filing of annual returns. This task needs to be completed within a given deadline.
Some of the most prominent responsibilities of a company secretary associated with board meetings are listed below:
- Booking a meeting room and making some other preparations
- Liaising with the managing director or chairman regarding agenda papers
- Take down the minutes of the meeting and enter them into minute books
- Clearly inform the company executives regarding the decisions made in a board meeting
- To make sure that the meeting is carried out in accordance with a prescribed method
- Keep the company’s statutory books and records in an up-to-date condition
If any change happens within the structure of a company, the secretary is responsible for updating the statutory registers of such a company. For instance, the secretary is bound to maintain the Register of Members and Register of Directors.
Such a person is also responsible for keeping the important company documents at a safe and secure place. These documents include “Certificate of Incorporation”, “Share Certificates”, “Memorandum and Article of Associations” and “Minutes of the meeting”.
- Maintaining regular communication with the shareholders
The corporate secretary must maintain consistent communication with the director/s. The secretary also issues notifications and documents associated with the monitoring of a company’s operations.
The company secretary serves as a bridge between the company and shareholder/s. Therefore, all the key announcements should be communicated to the executives via secretary.
