A company secretary is more than just an employee; their skills and in-depth understanding of corporate laws may elevate a corporation to the highest level. He is an expert in both company law and interpretation. Follow to know more.
Maintaining the company’s statutory registers, ensuring compliance with legal and financial regulations, and offering guidance and support concerning board and shareholder meetings are just a few of the important roles that a company secretary plays in the administration of a company. Inorder to become a company secretary is a critical counsel on significant issues impacting a firm’s governance. Since April 6, 2008, having a company secretary has not been a legal obligation for private companies (Sec 270 of The Companies Act, 2006). However, in the absence of appointing a company secretary, the directors will be responsible for ensuring that the company continues to adhere to the Companies Act, 2006 and that obligations are fulfilled on schedule and following the appropriate standards. As a result, many private companies continue to engage a company secretary to lessen the administrative load daily and to ensure that they comply with the Companies Act, 2006 and other relevant laws.
A firm’s company secretary executive is crucial management and administrative component. He conducts many regulatory tasks as one of a company’s legal agents, including carrying out the incorporation of the business, adequately preparing and auditing financial reports, submitting annual returns, dealing with regularly revised regulations, etc. Additionally, as a business advisor, he plays a significant part in the company’s board of directors’ incorporation of laws, corporate governance, strategic management, project planning, capital markets, and securities laws. A company secretary serves as the organisation’s in-house legal advisor and compliance officer.
Definition of a Company Secretary
The Companies Act states that a Company Secretary in India is an individual the Institute of Company Secretaries has approved as a member, performs the prescribed functions, and adheres to the rules and regulations under The Companies Act. The Companies Act also abides and grants each company secretary unique status so that he can serve as a Key Managerial Personnel (KMP) and contribute his knowledge as a worker in every:
- The private company with at least ₹ five crores in paid-up capital
- Public Corporation with a paid-up capital range of ₹5 to ₹10 crore.
A business secretary has a multidisciplinary background and is known for having various jobs and responsibilities. This article will help you define the key elements of a company secretary‘s legal position in India regarding employment and practice.
How can one become a Company Secretary?
Obtain a qualification
Even while it’s not required, getting a degree could improve your chances of finding work as a company secretary. A business administration diploma might be a smart place to begin.
The next step would be to pursue a university degree to further your study in law. You must have a bachelor of law to practise law. Typically, three years are needed to earn this degree. Relevant postgraduate degrees for the position of corporate secretary include the following:
- A law graduate degree
- Master’s degree in business administration
- Masters in the subject of Law
- The typical length of this postgraduate study is two years.
Do you aware of the Must Read Topic: List of Secretarial Services for Businesses in India
Ensure that you gain experience
An advanced-practice training course can teach the skills required to work as an entry-level lawyer. These training courses and job placements often last 20 to 25 days. You might consider enrolling in corporate law, governance, or finance training programs. You might be able to get a job as a company secretary if you have experience in these industries.
Find a job
When you have enough experience, you can start looking for opportunities as a business secretary. Making a short list of positions in a field that interests you is a good idea. Getting hired as a business secretary involves a certain procedure, and the board of directors chooses the company secretary.
Stages to become a company secretary.
- The student who wants to enrol in the course after passing the 10 2 exams or an equivalent must go through three stages, namely the Foundation Programme, the Executive Programme, and the Professional Programme, to complete the Company Secretaries Course
- The Executive Program and the Professional Program are the two levels of becoming a Company Secretary that the Student must go through to enrol in the Course after graduating.
What skills do you require to become a corporate secretary?
Company secretaries can communicate with a wide audience. The board of directors, top executives, CEOs, and external stakeholders are generally included. They must have excellent communication abilities. Company secretaries must be skilled in negotiating, influencing, and discretion because they deal with ethical, legal, and discreet issues. Company secretaries can improve listening skills.
Company secretaries must maintain organisation because they handle numerous elements of the business and should be able to keep company policies and processes properly. In addition to bringing specific issues to the board’s attention, company secretaries also present remedies. As a result, becoming a CS can require a lot of organisational skills.
The guidelines that distinguish between good and evil are business ethics. Company secretaries, who typically gain this knowledge via experience, assist in determining what is appropriate in a business setting.
A career as a business secretary may be wise given the position’s promising future. The position is frequently diverse, allowing you to work for practically any type of organisation. Company secretaries are quite satisfied with their jobs. Being a business secretary often comes with independence, favourable working circumstances, a feeling of accomplishment, acknowledgement, support, and solid relationships. This could be an excellent career choice if you enjoy taking the initiative, managing others, and making decisions.
- What is the Procedure of Secretarial Audit for a Public Company?
- Does a UK Company Need a Company Secretary?
- Appointing a Company Secretary? Things to Remember