What is the Role of a Company Secretary in Malaysia

A company secretary is a company official who is appointed by the company's Board of Directors and is responsible for handling the financial and legal affairs of the company. A company secretary is not what the name implies; A company secretary does not perform the duties of a regular secretary, such as receiving assistants and answering calls. A company secretary in Malaysia performs the task of guiding the company and its members on the different rules and regulations that govern the company.

Registration of all companies in Malaysia must be done under the direction of a company secretary. Under article 139 of the Companies Act of 1965, business registration in Malaysia, both for private companies and for public companies owned by a local resident or a foreigner, must have a minimum of 1 company secretary for your company . The appointment of a company secretary in Malaysia or the use of company secretarial services in Malaysia are not only necessary but mandatory by law.

Roles and responsibilities of a company secretary in Malaysia

The role of company secretary has evolved over the years, and is now the most preferred as an advisor to the company. The Board of Directors of a company is constantly dependent on the advice and guidance of the company secretary on legal issues related to the company. Then, in that case, a company secretary must become familiar with all the laws and regulations that govern the company and must fulfill the following responsibilities:

1. Comply with legal requirements

The company secretary is responsible for complying with all legal requirements established by the Malaysian Business Commission under the Companies Act of 1965. He has to help the company by being the official legal representative of the company. He / she has to update and communicate any changes in company information to the Company Registrar.

2. Direction and management of meetings

One of the most important functions of a company secretary is to conduct and administer the Annual General Assembly (AGM) and other general meetings of the company. The following are the tasks that a company secretary must perform at meetings:

Carry out the AGM at least once every calendar year of the company, whether it is active or inactive.

Reservation and preparation of the meeting room.

Attend the AGM and also other general meetings.

Preparing the meeting agenda and circulating it.

Provide advice on the legal and statutory matters of the company when necessary.

Prepare and submit the company's legal declarations and transmit them to the President and the Board of Directors.

3. Be well versed in securities laws and regulations

A company secretary in Malaysia must be thorough with all safety laws and regulations that govern the company. You must ensure that the correct procedure is followed and that you agree with the Companies Act of 1965 and the Memorandum of Association.

4. A feeling of continuous professional development

Every profession requires continuous learning: to be updated with emerging trends in that field, in the same way, even a company secretary in Malaysia or anywhere else in the world must continue to learn and update their knowledge about the new rules and regulations, new reforms, changes in the corporate world. The most important thing is that he / she must know all the laws related to business and be prepared for all kinds of uncertainties.

There are other duties and responsibilities that a company secretary has to deal with, such as:

Working with the Board of Directors and assisting in the formation, expansion, registration, merger, promotion, reorganization or liquidation of the company.

Management of any change in the Memorandum and Articles of Association (MAA)

Take care of the transfer of shares, the division of shares and the issuance of duplicate share certificates

Assignment of shares, bonds and dividend declaration

Maintain and update company details, such as the list of directors and shareholders

Act on behalf of the Board in general matters, such as the signing of bank or statutory declarations