As a senior officer of the company, a company secretary has a huge role to play in any company. In the case of liquidation, the company secretary is likely to assist in the arrangements of legal documents such as the company’s statutory registers and minutes books. The company secretary might be responsible for updating the assets, debts, taxation, and any outstanding charges connected to the company’s account as well to present all information requested by the liquidating officer.

The company secretary is a vital officer of the company by law. When carrying out their duties, they are required to always act in the company’s interest at all times. The company secretary under the law is required to report directly to the chief executive officer or the managing director. Most times, dual reporting lines are established to enable the company’s secretary to effectively perform in the corporation’s best interest. Therein, the company secretary will report to the chief executive officer on matters concerning management and report to the managing director on matters relating to the board. Therefore, it is advisable for each company in Singapore to clearly outline each category of issues and to whom the company secretary is to report them.

Yes. A company secretary is a mere employee of a company and can be removed by the company’s board of directors under Singapore company law. However, if the company secretary is hired for a predetermined term, they may not be removed before the agreed period ends unless there is a breach of duty. In the case of company dissolution, it is also important to know that the company secretary may lose their jobs together with other company employees. Several reasons could lead to a company secretary’s removal in Singapore. Poor communication, improper guidance, corrupt practices and incompetency in ensuring compliance are some reasons that can warrant the motion to sack a company secretary.

Whenever the company deems it fit to remove a company secretary, they can hold the right to terminate the secretary’s appointment. Ideally, before removing a company secretary, it is important to inform the secretary in advance about the company’s decision. The directors will complete the removal procedures amicably by requesting that the secretary tenders a resignation letter. The company then grants the resignation and puts in the necessary documents to finalize the decision.

If the secretary refuses to cooperate in tendering a resignation letter on their own, the company can arrange a removal procedure through the following steps.

– The directors must unanimously agree or cast their vote to remove the secretary.
– The removal and changes in the personnel of the company secretary should be filed and sent

Absolutely! Due to the critical role a company secretary plays, companies should hire a company secretary from a professional corporate firm. The hired company secretary will act as a core member of the company and will undertake several compliance duties to represent the company.

Due to the importance of this job, many new and existing businesses hire an experienced corporate secretarial service provider to function as their company secretary. In addition, as the firm grows and expands, the corporate service provider may provide expert advice and uphold administrative and legislative duties to ensure compliance with Singapore’s law.

At SJH Advisory, we can provide your company with professional corporate secretarial services in Singapore. We have the qualities to help you bear all your company secretarial responsibilities. Thereby helping meet compliance requirements and ensuring that your business runs smoothly.

Appointing a company secretary is one of the primary requirements for starting a Singaporean corporate business. If the company fails to hire a company secretary within 6 months after incorporation, the company and its directors may meet with fines, and in worst cases, may be summoned to court.

For example, in its April 2014 press release, ACRA reported that it had issued over 10,000 summonses to corporations defaulting in matters relating to regulatory compliance.

In conclusion, every company needs an individual who can perform the role of a secretary. Depending on the size of the business, the secretary might have many or limited responsibilities. Moreover, if you’re running a corporate business in Singapore, you need to have a company secretary in accordance with the laws of the land. Do you need to hire a company secretary while still reducing overall costs and increasing efficiency? SJH Advisory offers corporate secretarial services in Singapore. Contact us today.