The Accounting and Corporate Regulatory Authority mandates that every company incorporated in Singapore must fulfill the statutory requirement of appointing a company secretary within 6 months from the date of its incorporation.
The company secretary must reside in Singapore and will be the primary officer responsible for several administrative and reporting functions as stipulated under Section 171 of the Companies Act. Some of these core responsibilities include filing of the company’s annual returns, share transfers, registration of members, and recording and filing of board resolutions among others.
While the Companies Act outlines the legal framework within which the secretary and the directors must operate, it is the sole responsibility of the secretary to support the company directors in ensuring that the company complies with all the existing regulations.
This article highlights the statutory requirement for the appointment of a corporate secretary and the various, roles, and duties of the secretary.