Company Secretaries Responsibilities and Duties
Introduction
Today, a company secretary has an increasingly important role in the area of corporate governance and must therefore be pro-active in satisfying his/her duties and responsibilities under the Corporations Act 2001. Therefore, the purpose of this essay is to conduct a research on the role and legal institution of a company secretary based on Australian corporate law. It’s a legal structure currently involves a national statute named as the Corporations Act 2001 which managed by a national regulatory authority, the Australian Securities and Investments Commission (ASIC). This essay will also be capable to show and proof certain requirement of the legal responsibilities a company secretary need to face according to the corporate governance secretarial standards in Australia. Furthermore, this essay will also covers the scope of duties of secretaries as officers of companies with newer development. Meanwhile, several legal cases which involving company secretaries’ legal responsibilities will be uses as sample to support the thesis. The entire essay will help us to have a better understanding on Australian Regulation regarding the Corporate Law Act 2001 and corporate governance framework.
What is company secretary?
Company secretary is also known as officer that hired by the directors of a company firm as liable to make sure that the company firm’s legal obligations under the corporate legislation are act accordance with. The general duties for a company secretary include calling meetings, recording minutes of the meetings, keeping statutory record books, proper payment of dividend and interest payments and proper drafting and execution of agreements, contracts and resolutions1. A company secretary can be in a partnership or another company but not necessarily have to be an individual. In fact, there are numerous accountants and lawyers are providing secretarial services to their clients as a corporate secretary. A company secretary is not necessarily an
Today, a company secretary has an increasingly important role in the area of corporate governance and must therefore be pro-active in satisfying his/her duties and responsibilities under the Corporations Act 2001. Therefore, the purpose of this essay is to conduct a research on the role and legal institution of a company secretary based on Australian corporate law. It’s a legal structure currently involves a national statute named as the Corporations Act 2001 which managed by a national regulatory authority, the Australian Securities and Investments Commission (ASIC). This essay will also be capable to show and proof certain requirement of the legal responsibilities a company secretary need to face according to the corporate governance secretarial standards in Australia. Furthermore, this essay will also covers the scope of duties of secretaries as officers of companies with newer development. Meanwhile, several legal cases which involving company secretaries’ legal responsibilities will be uses as sample to support the thesis. The entire essay will help us to have a better understanding on Australian Regulation regarding the Corporate Law Act 2001 and corporate governance framework.
What is company secretary?
Company secretary is also known as officer that hired by the directors of a company firm as liable to make sure that the company firm’s legal obligations under the corporate legislation are act accordance with. The general duties for a company secretary include calling meetings, recording minutes of the meetings, keeping statutory record books, proper payment of dividend and interest payments and proper drafting and execution of agreements, contracts and resolutions1. A company secretary can be in a partnership or another company but not necessarily have to be an individual. In fact, there are numerous accountants and lawyers are providing secretarial services to their clients as a corporate secretary. A company secretary is not necessarily an
Bibliography: Parker, D et al. Corporate Law; Law Principles and Practice (Palgrave Macmillan 1st ed, 2012) PricewaterhouseCoopers, Procedures Guide for Company Secretaries (2011) <http://www.pwc.com.au/legal/assets/GuidePTY_Jun08.pdf>