24th November 2022 | Business
Company secretaries support the directors of a company and help companies comply with their administrative and governance requirements.
Private companies (e.g. Pty Ltd Companies) are not required to have a secretary, but many do.
Company secretaries are typically responsible for:
- Keeping company documents and company registers up to date (see here for our article on company registers);
- Organising meetings of directors and shareholders and recording minutes of those meetings;
- Ensuring that meetings are run in accordance with rules set out in:
- The Corporations Act 2001 (Cth) (the Act); and
- Company documents like a constitution or shareholders agreement;
- Submitting paperwork to the Australian Securities and Investment Commission (ASIC);
- Co-signing contracts with directors;
- Ensuring the company complies with its reporting obligations under the Act; and
- Helping directors establish good corporate governance practices.
One person can be a director and a company secretary at the same time. If you appoint a secretary for your company, you must get their signed consent to act and let ASIC know.
Must be at least 18 years old, and for a company that has one, at least one that is ordinarily resident in Australia.
Company secretaries have legal obligations similar to those of directors.
You can find out more information on the ASIC website
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