Who is this “Company Secretary”?

This is a person that is by law according to the Companies Act Section 171 (1) required to be appointed by the Company.


Who is this “Company Secretary”?

This is a person that is by law according to the Companies Act Section 171 (1) required to be appointed by the Company.

More important than complying with the law, a Company Secretary will be a big help to your company!

Do you like reading up on the Companies act, ACRA rules and the Company’s Constitution?  If no, let us help you do so!

A Company Secretary as per ACRA states that the corporate secretary will need to maintain and update the company’s registers and minute books. Administer, attend and prepare minutes of meetings of directors and shareholders. Keep company directors aware of the deadlines for annual returns and any other filings required by ACRA. Update directors and shareholders on relevant changes in corporate regulations.

Besides the legal matters of changing directors, transferring of shares, preparing documents for directors’ meetings. Your Corporate secretary is your friendPreventing the company from paying unnecessary penalties, advising you on company matters and liaising with lawyers to help you when legal help is needed.

The Company secretary is also sometimes like an arbiter, liaising between the directors and the shareholders, especially when conflict arises and both parties want to prevent any breach of their duties. Again, a lawyer may become involved when the need arises, till then, the company secretary will be the advisor.

Must you really appoint one?

Yes. There is a $1,000 penalty for not doing so.

My friend told me that I can be the Company Secretary and save money!

Well, the law states that it is the duty of the directors (which means ACRA can penalise you) of a company to take all reasonable steps to appoint a company secretary that appears to them to have the requisite knowledge and experience to discharge the functions of secretary of the company.

If you have the requisite knowledge and experience to be a company secretary, you are not the sole-director and you have the time to do it, why not?

Let us help you today!

Our Corporate Secretarial Services

The annual return of a company is a statement that has to be given to ACRA yearly by the company. Depending on the type of company and the size of your company, the filing of annual returns can become a complex task as it would need to fulfill ACRA’s requirements. Some of ACRA’s requirements also require complying with other acts other than the Companies Act.

We can do the filing of annual returns on an ad-hoc basis or in a package basis as required by the company.

Annual General Meetings are an important “ritual” that needs to be held yearly where the directors and shareholders meet. It can be a very pleasant meeting or a very unpleasant one, depending on the make up of both categories of stakeholders and the ongoings during the year.

There are companies that simply skip the actual meeting, because, as the common excuse goes, “there is no need to meet, we see each other in the office every day”.

For very large companies, managers, directors meet very often for strategic planning, budgeting, operational planning etc.

For small companies, directors and shareholders seldom spend time to focus and discuss only on the company’s financial matters. When the directors dissect the financial statement (even if they the same persons) in a dedicated session, it gives clarity and it becomes a form of accountability that they may hold to themselves.

AGMs can be very useful in planning how the next financial year would turn out to be and if they set targets, measure the company’s performance against the previous year and if indeed the directors are running the company as well as they could!

The eXtensible Business Reporting Language or as it popularly known as XBRL is a framework that is available freely and is accepted globally for the exchange of information related to business. The implementation of the eXtensible Business Reporting Language system become a bit difficult in the start because of the sheer amount of data that has to be integrated and the reporting format changes. We will be able to assist you with it!

A board resolution, or often also called as a corporate resolution is a formal document that is used to make a statement about an important issue in a board meeting. There are two types of meetings:

Directors meetings

Shareholders meeting

These are not just normal meet ups, but usually concern required by the law or the company’s constitution to be held. A vote will be required to pass the resolution. Some resolutions require to be uploaded to ACRA, while others are to be only kept by the company.

Some resolutions have deadlines to be filed, or to be sent out to the relevant parties, and even who to involve.

Let us help you with that!

Legal agreements are very important documents, they are drawn up for many important reasons. It is very important that the legal documents that are made are air tight and there are no loopholes present in them. We can act as a liaison with the legal partner of the company to prepare the legal documents. Some documents may be time sensitive; the corporate secretary will ensure that the law firm prepares the documents on time and delivers them on time to the company.

This may concern the purchase of new properties, appointing a new director with a written director’s contract, merging with another company, buying or selling the company or another company’s shares etc.

There are different kinds of shares a company may have be it unpaid shares, paid up shares, preference shares, convertible preference shares, preference shares with coupon rates.

There may be a need to make a call on unpaid shares, raise new capital, reduce paid up capital…

Unlike anyone who can buy a share of a public company traded on the stock exchange, the directors of the company hold a lot of power in determining whether a share can be sold to a desirable party. Raising capital through shares need to follow certain protocols required by the company’s constitution.

Do you need help? Contact us today!

There are some rules that are laid down by the government when it comes to termination, resignation and adding of new director to the board. The board must follow all these rules or be aware of the requirements of the Companies act and the Company’s constitution or they risk legal proceedings against them or invalidating whatever was done.

Contact us today!

Subsidiaries, joint ventures, partnerships (yes, a company can be in a partnership), sole proprietorship… There are many interesting ways a private limited company can work with other companies or set up new ventures.

Feel free to contact us!

  • No Hidden fees: At ET Management services, we are transparent about pricing. We do not overcharge and we definitely do not charge for things that you have not heard about.
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A Team of Chartered Accounts & Accredited Tax Advisors.

We provide value for money services with our very reasonable rates.

A Team of Chartered Accounts & Accredited Tax Advisors.

We provide value for money services with our very reasonable rates.