A company secretary in Malaysia is a crucial position in a company, responsible for ensuring compliance with statutory and regulatory requirements. The role of a company secretary is defined by the Companies Act 2016, which governs companies in Malaysia.
The company secretary maintains important company records and documents, such as the company’s constitution, board resolutions, and minutes of meetings. They also oversee the safekeeping of the company seal and other important documents. It is important to note that the role and responsibilities of a company secretary may vary depending on the size and nature of the company. In Malaysia, it is a requirement for every company to appoint a company secretary within 30 days of its incorporation. The company secretary must be a natural person who is a member of a professional body or licensed by the Companies Commission of Malaysia (SSM).
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Here are some key responsibilities of a company secretary in Malaysia:
Statutory Compliance: The company secretary is responsible for ensuring the company complies with all statutory requirements under the Companies Act 2016. This includes maintaining and updating statutory registers, filing statutory returns, and ensuring compliance with filing deadlines.
Board Support: The company secretary assists the board of directors in organizing and preparing for board meetings. They are responsible for preparing meeting agendas, circulating board papers, recording minutes of meetings, and ensuring proper documentation of board decisions.
Shareholder Relations: The company secretary facilitates communication between the company and its shareholders. They handle the organization of shareholder meetings, including annual general meetings (AGMs), and ensure compliance with legal requirements related to the issuance and transfer of shares.
Corporate Governance: The company secretary plays a vital role in promoting good corporate governance practices within the organization. They advise the board on corporate governance matters and assist in the implementation of policies and procedures to ensure transparency, accountability, and ethical conduct.
Legal Compliance and Disclosure: The company secretary keeps abreast of changes in corporate laws and regulations and ensures that the company operates within the legal framework. They assist in drafting and reviewing legal documents, such as contracts and agreements, and ensure proper disclosure of information to relevant authorities and stakeholders.