A company secretary is a company officer in a private or public company and is playing an important role as professional advisor to the Board of directors.
It is known as corporate secretary in the United States.
Company secretary must be a natural person and a resident in Malaysia and is a member of any one of the prescribed professional bodies or licensed by the SSM.
The company secretary is responsible to advise the Board of directors to comply with all relevant legislations and regulations and to ensure that the company and its directors operate within the laws. The company secretary is also required to assist the board members at all times understand their legal responsibilities to carry out the duties as directors.
It is company secretary’s responsibilities to register and communicate with company’s shareholders and to maintain company’s records such as list of directors and shareholders, minutes book, register book, annual returns and accounts.
The Board is required to evaluate and choose the most capable person to be their company secretary. The Company secretary is also in the position of confidence as the trusted adviser of the Board and act as a confidential sounding board to the Directors on issues of concern.
In Malaysia, it is impossible for small and medium companies (non-listed SMC ) to engage full time professional company secretary in the office. As such, a secretarial firm will be appointed to provide company secretarial services to the Company whereby a chartered secretary will be named as company secretary of the company. A monthly fee ranging from RM60 to RM100 will be charged for such retainer services.
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Check it out: Change Company Secretary