A company secretary in Malaysia is a very crucial person. A company secretary performs a significant role in the establishment of a business. Unlike in many other countries, a secretary in a Malaysian company performs very official duties.
However, to be a company secretary in Malaysia, you first have to be a citizen of Malaysia. You should also have a permanent residence. You cannot also be a company secretary unless you have a certification from Company Commission Malaysia. It is this body that outlines the roles of a company secretary. Let’s look at the roles and responsibilities of a company secretary at a glance.
- A company secretary is an advisor to the Board of Directors
Usually, company secretaries are familiar with the provisions of the company’s Memorandum and Articles of Association. As such, they are mandated to ensure compliance with the Company’s Memorandum and Articles of Association.
They should also advise the board of directors on the appropriate date for holding the company’s annual general meeting.
- Ensure compliance with Statutory Requirements
A company secretary is conversant with a variety of statutory and regulatory laws.
It is their responsibility to ensure that the company complies with set legislations in Companies Act.
They also act as the official link between the company and Suruhanjaya Syarikat Malaysia. As such, they communicate, prepare, and submit Statutory Returns on behalf of the company.
In case of any alteration in the company’s statutory information, the company secretary should notify the registrar of Companies. Also, ensure that all the necessary documents which are duly signed are submitted to the registrar of companies promptly.
- Filing annual returns on behalf of the company
A Company Secretary should always ensure that the company’s annual returns are submitted in time. Also, they should ensure that full accounts are settled according to the statutory deadline.
- Acts as the primary point of contact
Regarding matters of corporate governance, the company secretary acts as the primary point of contact for the institution and its shareholders.
A Company Secretary is also involved in the implementation of corporate acquisitions, mergers, and disposals. Their role is very vital since they ensure the effectiveness of all documentation. They also ensure due diligence disclosures, thus enabling proper commercial evaluation before the transaction is complete.
- A company secretary is in charge of the company seal
One other crucial responsibility is to ensure that the company’s seal is in safe custody. Whether an audit company in Malaysia or any other company, the secretary is the custodian of the seal.
In conclusion, a company secretary in Malaysia plays a crucial role in a company. Right from preparing and organizing the Board meetings to being the custodian of the company’s seal.