The main duties of a company secretary in Malaysia

After you register your business in Malaysia, you will face countless challenges and, as a business owner, who will handle all accounting, administrative and legal issues, it can be daunting. Also, you are required to follow the rules set by the Malaysian authorities when conducting your business. Every aspect of strict requirements and a wide range of attention is required in today's area of ​​business, running and maintaining a company is not smooth sailing. Here you need the help of a company secretary service.

In Malaysia, the company secretary is obligatory for joint stock companies or private equity companies, which do not fall under the legal requirements of the Companies Law-3 and each company must appoint at least one secretary. Company secretaries are considered individuals who serve an important purpose and contribute to the management of the business.

A company secretary is primarily responsible for ensuring that the company adheres to standard legal and financial practices for monitoring corporate governance standards. In general, the company secretary does not engage in legitimate company issues and does not offer any legislator to maintain a thorough knowledge of the theories involved in the specific duties and duties of the secretaries of different companies.

The Company Secretary also plays an important role as a communication channel between the Company's shareholders and the Board of Directors. The company secretary is generally responsible for the timely delivery of information in the manner and development of the company.

Qualifications of a company secretary

To be the secretary of a Malaysian company, you must have multiple qualifications, because hiring one of each company is a legal requirement.

According to Malaysian law, following section 20 of the Companies Act 20 of 2016, a company must have at least one company secretary who is a 6-year-old person who can be ahead or place of residence in Malaysia. He or she must have at least one qualification below:

• An authorized accountant who is registered with the Malaysian Institute of Accountants (MAI).
• An authorized secretary registered with the Malaysian Institute of Secretary and Administrator (MICRA)
• A license secretary to be the secretary of a company authorized by the Malaysian Company Commission
• A lawyer who is registered with the Malaysian Bar or any relevant authority

Also, the secretary of the agency must not be insolvent and will not be found guilty of any crime according to article 5 of the Companies Law.

The role and responsibility of the secretary of a company

A company secretary performs various roles and responsibilities in a company and some of the basic responsibilities are outlined below.

Understanding Company

The secretary of the employment agency must first learn how the company operates. Not only this, the secretary must dive deep into the organization of the organization to fully understand all the ongoing work of the business activity. In doing so, the company secretary will be able to fully understand the sphere of the organization. Since the role of the company secretary is important, we need to understand all the life elements of their company.

Ensure compliance with legal requirements

The company secretary acts as the official liaison officer of your company, as they are locally known as the company and the company of the Malaysian company or Suruhanajaya Syarikat Malaysia (SSM). In accordance with the Companies Act of 1965, the secretary of the agency will assist in preparing and submitting the legal return of the company to the SSM.

Minutes, resolutions and preparations for attending meetings

The secretary of the organization must attend the meeting of the board of directors or the general meeting and is responsible for taking the minutes of the meeting. They will participate in meetings to attend the members of the board of directors and will be based on the consulting members of the company, as well as other senior officers of the company.

A company secretary is required to prepare solutions by notification resolution whenever the council or its members are requested. Another great responsibility of the company secretary is the preparation of the annual return of the organization and its submission to the SSM.

As an advisor to the organization

Generally, company secretaries are present for general consultants to ensure that all company records are properly maintained and updated the following existing Malaysian law.