Business

Take a Closer Look at Roles of Company Secretary in Singapore

These days, all business owners must know that the corporate secretarial service is critical to increasing business performance. They not only help you boost the business performance but also smooth the operation of board procedure. Company secretary is a corporate lawyer that they will help your business in different ways. They have skill and experience in the field, so the experts handle all administrative and financial tasks in the industry. The reliable company offers an excellent service to their clients.  

The company rules and regulations in Singapore are complicated, and it is not simple for the organization to failure to pay on some of them. It is a company secretary operation to assure that the organization fulfills the Singapore regulatory authority. Also that the company secretary should have responsibility and skill to ensure regulatory agreement. When hiring this firm, you can concentrate on business activities and increase the retention of customers. 

What are the roles of Company Secretary Service Provider?  

The company secretary firm offers a variety of services to the clients. The experts can prepare the annual return for the company so you can save time and money. The professionals can perform different tasks on the business entities that will aid you to enhance business efficiency. Here are some of the critical roles of a company secretary in Singapore based on ACRA: 

Scheduling and attending board meetings  

One of the essential functions of the company secretary is planning and participating in board meetings. The board meeting resolutions are supposed to be filed through a few minutes, which is the secretary’s main job. They must attend all business meetings and maintain the document up to date. They prepare the meeting plan and provide it to the director, shareholder, and others in the company. 

Statutory registers updating 

The experts will maintain and update the information to the authority. The activity includes updating and maintaining data in sharing transfers and issues between the shareholder, appointment, or resignation of management officials like directors, secretaries, CEOs, and others.  

File company changes to ACRA  

The company secretary will file the change of the organization to the ACRA. The business owner will find out that they want to change the company details to conduct their business like name, share allotment, do share transfer, and update the company’s code and others. Every change is supposed to file to the ACRA within a specified period once they have approved. It will be one of the vital roles of the secretary. 

Protect the company seal  

One more critical role of company secretary is protecting the company seal. Proper utilize of the organization seal is predetermined in the constitution of the company. The company secretary must guarantee that seal is kept secure while not needed. They must note down the due date for the compliance that the annual return reports are prepared quickly and filed to avoid the penalty. The professionals will submit the annual reports on time that help you save money. 

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