Learn What to Look for When Hiring a Company Secretary Now and Know the Qualities Essential to Your Company’s Operations!
Like any position in a company, you cannot just hire at a whim. Much consideration is needed. This is especially so when you are looking to hire a company secretary who will oversee the many corporate affairs of your company. This is per the Companies Act 1965, where for any registered company, there must be at least one company secretary.
Given its significance, one cannot fathom its crucial nature, let alone to think lightly regarding the candidate selection process for the job. Learn what to look for when hiring a company secretary now and know the qualities essential to your company’s operations!
What Does a Company Secretary Do?
A Company Officer and Board Advisor
Responsible for the provision of memorandums and articles of association of the company. As well as other secretarial roles.
- Statutory and Regulatory Compliance
A company secretary’s job is also to ensure the daily operations as well as the overall functioning of the company to comply with statutory and regulatory requirements. This is about the law and other bodies of authority.
- Preparation for Board Meetings
The secretary serves as the intermediary between the shareholders and the company. They liaise, send out notices and document the meetings (minutes).
- Filing of Annual Returns
The company secretary is responsible for the completion and submission of the company’s annual returns in compliance with the designated deadlines.
- Custodian of Company Seal
The company seal will be in the custody of the company secretary.
- Primary Point of Contact
The secretary is the central point of reference and serves as the middleman in many of the company’s communications, particularly with shareholders and other institutions.
What to Look for in Hiring a Company Secretary
Indeed, not anyone can fulfil the role of such importance, and many things should be put into consideration. These qualities are important, indispensable even. Among them are:
Credentials and Eligibility
The potential secretary must be registered under the Malaysian Institute of Chartered Secretaries and Administrators (MAICSA) and be licensed by the Company Commission of Malaysia to be qualified. He or she must also be a natural person of 18 years old and have a principal or place of residence in Malaysia on top of not being bankrupt. The candidate must also not have previously committed any offences under Section 130 of the Companies Act.
Well Versed With Malaysian Company Law
It is of vital importance that the candidate is knowledgeable in terms of statutory and regulatory standards and requirements. The Malaysian Company Law/the Malaysia Companies Acts are of no exception. This is necessary because company secretaries are the ones who will ensure that the company runs right by the law, if they are not competent in this department, the results can be especially disastrous potentially jeopardising the entire company.
Being an intermediary between parties almost always demands good communication skills. Company secretaries are also involved in meetings coordination and liaisons with other parties. Given they also serve as advisories, it is preferable if they can communicate effectively.
Organisational and Administrative Skills
The candidate should also have experience in handling an organisation and have adequate administrative skills. Other than ensuring proper filing and documentation, the secretary also needs to ensure that the company is in compliance with the law and this may involve mobilising human and other resources to achieve.
Adequate Financial Analytic Skills
Many of the paperwork may involve financial knowledge, and the candidate must possess the relevant analytic understanding. This will help in the calculation and interpretation of financial information.
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