Various laws such as company law, SEBI, FEMA and banking law govern corporate governance. Company secretaries are members of the board of directors and advise the company`s board of directors. Corporations and registered corporations must have corporate secretaries. ICSI is the statutory body for company secretaries who work with 50,000 associate members. Corporate Secretaries are assigned to the Board of Directors as Corporate Secretaries, Directors, Chairs, Non-Executive Directors and Officers. According to the National Statistics Survey, the salary of company secretaries is the sixth highest salary. According to the Companies Act 2013, any listed company with a share capital of ten crores and commercial banks must appoint company secretaries. The different functions of business secretaries in India are listed below. The exact responsibilities of the company secretary depend on the size and nature of the company and there is no legal definition of what they are, but it usually includes some or all of the following:[7] These are some of the most important tasks of a company secretary, and one must be very specific in order to perform these tasks correctly and responsibly.
Since most of the essential factors of the company depend on these decisions, it is necessary to choose a wise company secretary for the future of the company. The company`s secretarial software can also help board members communicate by attending an online meeting to discuss various company-related terms. He can also help with communication with the management team. The communication application is completely secure and adequately protects all data. Therefore, with such software, directors can use the devices and means they prefer. In China, every listed company must have a board secretary. Under section 124 of the Companies Act 2005, every listed company is required to have a secretary on the board of directors. The duties of the Secretary of the Board include preparing meetings of shareholders and directors, keeping company records and shareholder information, disclosing information, etc. The relevant registration rules in China further specify that the Secretary of the Board of Directors is a high-level position. These registration rules deal in detail with the duties of the secretary of the board. According to the “Special Provisions of the State Council on Initial Listing and Listing of Shares by Limited Liability Companies”, the “Guidelines for Articles of Association of Listed Companies”, the “Rules for Admission to the Shanghai Stock Exchange” and the “Rules for Admission to the Shenzhen Stock Exchange”, the Secretary of the Board of Directors is classified as a management team. According to these listing rules, the secretary of the board of directors or secretary of the board of directors in China is comparable to the secretary of the company in many other countries.
The Board of Directors, in particular the Chair, relies on the Secretary of the Corporation to advise them not only on directors` legal obligations, disclosure requirements and registration rules, but also on corporate governance requirements and practices and effective Board processes. This specialized role of modern corporate secretary has evolved to position her as one of the most important governance professionals within the organization. If a person is interested in business law, it is not harmful to sue a company secretary. However, it is not advisable to pursue a career as a corporate secretary as it takes a lot of work and time to pursue a career. The stress on such a task can therefore ruin other job opportunities. It is recommended to enter this field only if there is time, interest and willingness to work hard for the essential tasks of a company. Corporate Secretaries are the primary source of business advice, from legal advice on conflicts of interest, accounting advice on financial reporting, strategy development and business planning. Vakilsearch is India`s largest law firm and the legal services platform has helped more than 10% of Indian businesses self-register. With a team of highly experienced lawyers, legal advisors and auditors, they solve many cases every day and deliver positive results to their clients.
