Wednesday, 26 June 2013

All About Company Secretary (PART 1)

A company secretary is an in-house legal professional who performs the role of a compliance officer of the company. He is practiced in securities laws, corporate governance & corporate laws. A company secretary also acts as a chief advisor to the board of directors and suggests them on various best practices in corporate governance. He plays the role of a corporate planner, policy maker and strategic manager. He/she is also responsible for all the regulatory compliance of the company and sees that all the rules and regulations are being adhered to.

With so many duties to execute & perform, a company secretary needs to manage all these things along with other financial matters of the business as well. Here are some of the services that a company secretary renders to the organization:

Management Services

-    Human Resource Management
-    Strategic Management
-    Public Relations

Corporate Advisory

-    Arbitration services
-    Conciliation services
-    Corporate law advisory consultant

Financial Market 

-    Taxation
-    Accounting & Finance
-    Securities Compliance
-    Public issue
-    Listings & Securities management

Corporate Governance

-    Compliance audit
-    Certification services
-    Corporate governance services

Company Secretaries have excellent career prospects. They can either get employment in private or public sectors or practice as independent professionals.

Companies with a paid up capital of Rs. 5 crore or more have to appoint a whole time company secretary under section 383A of the Companies Act, 1956. It is necessary to appoint a whole-time company secretary for all those companies who are seeking listing on the Stock Exchanges. It is useful to appoint a company secretary for all those companies whose affairs are conducted by councils, boards, authority, federations or any other association.

If you wish to practice independently, you have to obtain a “Certificate of Practice” from The Institute of Company Secretaries of India (ICSI). Every company which has a paid up share capital of Rs. 10 lakh or more but less than Rs. 5 crore is required to engage the services of a whole time practicing secretary in order to obtain a compliance certificate. Company secretaries have been authorized to issue certificate regarding compliance of conditions of corporate governance. A company secretary in practice is authorized to attest documents & issue certificates under Companies Act 1956, Exim policy , SEBI Act etc.

Look out this place for more details about company secretary courses.