What if a company does not have a company secretary?
You should note that if you do not have a company secretary, then the responsibilities of a company secretary fall on the directors of your company. Amongst other duties, a company secretary’s main responsibility is to ensure that your company complies with all applicable statutory and regulatory requirements.
Does a company have to have a company secretary?
All public companies are obliged to have a company secretary. In April 2008, as a result of the Companies Act 2006, the post became optional for private companies unless their articles of association explicitly require them to have one.
When company secretary is required to be appointed?
Hence, every company which has a paid-up share capital of Rs 10 Crore or more is mandatorily required to appoint the whole time CS (Company Secretary).
What is the role of company secretary in a company?
A Company Secretary is responsible for the efficient administration of a company, particularly with regard to ensuring compliance with statutory and regulatory requirements and for ensuring that decisions of the board of directors are implemented.
Can be appointed as a secretary?
Only An Individual can be appointed as a Secretary.
How can a company secretary be appointed and removed?
A secretary can be removed from a private limited company at any time by a simple majority vote of the directors or by ordinary resolution of the members, subject to any service contract in force. Likewise, a secretary may resign by giving notice in writing, subject to the terms of their service contract.
Who appoints secretary in a company?
Mandatory Requirements Company Secretary shall be appointed by means of a resolution of the Board containing the terms and conditions of the appointment including the remuneration. A Company Secretary shall not hold office in more than one company except in its subsidiary company at the same time.
Can a director also be company secretary?
Yes, the Director can be appointed as a Company Secretary although the Company Secretary is no longer a mandatory appointment. However, in the case of a PLC the company needs to have two Directors AND a Company Secretary.