Responsibilities of a Company Secretary in Malaysia
Unlike what the name implies, a company secretary does not perform the secretarial duties we would automatically assume come with the job title of a secretary. Company secretaries in different countries around the world would have varying degrees of duty depending on the local business requirements of the country they are operating in.
A company secretary in Malaysia for example take on the responsibility of guiding the company members in familiarising themselves with the many legislatures and regulations that govern a company operating in Malaysia. A company secretary in Malaysia is constantly relied upon by the board members for guidance and advise on matters that may relate to the company.
The Responsibilities of a Company Secretary in Malaysia
A company secretary in Malaysia would be required to perform the following duties:
- Be well versed with securities laws and regulations – The duty of a company secretary in Malaysia involves ensuring that the correct procedures are followed and adhered to in accordance with the Company’s Memorandum and Articles of Association, as well as the Companies Act 1965.
- Be well versed in statutory and compliance matters – A company secretary in Malaysia oversees the company’s statutory information, and he or she would be responsible to ensure that any change in this information is duly completed in the relevant prescribed forms.
- Handling company meetings – A company secretary would also need to advise the board of directors on the relevant dates for holding company annual general meetings. This needs to be done irrespective of whether a company is dormant or active. The duties a company secretary would need to perform in meetings are booking and preparing the meeting room, taking the minutes of the meeting, follow up on decisions made during the meeting, and an advisor to the chairman and board of directors.
- Have a sense of continuing professional development – A company secretary in Malaysia should constantly seek to improve their professional development by actively seeking to improve their performance, knowledge and skills in the job. A company secretary needs to always be up to date on what is happening in the corporate world and always make it a point to stay on top of things.
How a Company Secretary in Malaysia Gets Appointed
The appointment of a company secretary in Malaysia is subjected to the Companies Act 1965, which states that the person who is appointed as the company secretary has to execute Form 48F before he or she is appointed. The board members would also need to approve of the company secretary before they can be appointed.
Form 48F is a Declaration by a Person Before Appointment as Secretary. This form would come into play again when there is a new incorporation of a company, and the company secretary is the first named secretary in the Memorandum and Articles of Association of the company. Find out more information on Company Secretary Services.