Why a Company Secretary Can Kick Your Management up a Notch
I want to rephrase,
A Company Secretary can kick
your management up a BIG notch
A Company Secretary is like an extra set of the five senses to the organisation. Yes, I do mean this literally.
A Company Secretary will be the eyes, ears and the extra pair of hands for your organisation. A guardian, to make sure the business does not fall off the tracks, on your corporate journey.
Now let’s check out why they are crucial.
Your Company Secretary will ensure the company is conducting as mentioned in its Articles of Association. They will make sure you comply with the statutory requirements and the law.
It is a crucial requirement in every company to maintain accurate records of important statutory documents (such as incorporation papers, director’s consent to act, director’s resolutions, shareholder agreements, and annual returns in the company registers and files.)
This is where the Company Secretary walks in and does his or her skilful job in the maintaining of these records.
Cheers to Company Secretaries!
If failed to do so, you will again be subject to penalties and prosecution under the Companies Act. The maintenance of these records will be checked frequently by authorities.
Your Company Secretary will prepare and keep a record of major statutory documents such as the annual return of your company, changes in the Articles of Association, notices of the allotment of shares, and changes in the registered office address.
These filings have to be performed within a specific time frame. If you are late, it is considered as an offence and the directors of the company will be liable to pay lodgement fines.
And boy, these fines get heavy.
Your Company Secretary will involve in whatever discussion where shares exist. They will allot shares, issue share certificates, and maintain statutory share registers. And of course, the activities that come with share transfers.
I want to stress on the fact that is indeed important to take in Company Secretarial Services, specifically at the start of your business. Trust me. All it will do is make your journey to business, an absolute breeze.
He or she will also act as an adviser to the Board of Directors. There will be no gaps left out when making corporate decisions. The decisions you make would be built on confidence and security.
What’s convenient for you is that the Company Secretary acts as the mediator between your company and regulatory authorities.
In the case of Company start-ups, the Company Secretary will be the mediator with your Company and the ROC (Registrar of Companies).This gives you the benefit of the Company Secretary operating all the requirements needed to start up including;
- Obtaining the Articles of Association,
- Creating Board Resolutions,
- Minuting board meetings,
- Filing copies of resolutions at Companies House,
- Signing documents on a director’s behalf,
- Maintaining of the Company’s registered address.
Managing Bookkeeping is also important whether your company is budding or has reached heights in business. Checkout our guides, Entrepreneur’s Guide To Bookkeeping and Bookkeeping – A Financial Guide For Survival.