WHAT IS THE ROLE OF A COMPANY SECRETARY
The Company Secretary is responsible for the efficient administration of a company, particularly with regard to ensuring compliance with statutory and regulatory requirements and for ensuring that decisions of the Board of Directors are implemented.
WHAT IS THE ROLE OF A COMPANY SECRETARY
In Nigeria, every company must have a Company Secretary. The Company Secretary is responsible for the efficient administration of a company, particularly with regard to ensuring compliance with statutory and regulatory requirements and for ensuring that decisions of the Board of Directors are implemented.
Company Secretary attends the meeting of the company, the board of directors and its committees, rendering all necessary secretarial services in respect of the meeting and advising on regulatory or statutory compliance by the meetings with the applicable rules and regulations. It is also the duty of the secretary to maintain registers of the company and other records requires to be maintained by law.
A Company secretary has the duty of rendering proper financial returns and giving notification to the Corporate Affairs Commission (CAC) as required by law and also Filing the required annual returns with the Corporate Affairs Commission(CAC)so as to remain in compliance with the provisions of the Company and Allied Matters Act
Company secretary execute post-incorporation services like filing changes in incorporation records with the CAC, handling changes in the company name or Memorandum and article of association, etc.
They respond to all company’s legal questions and legal enquiries.
QUALIFICATION OF A COMPANY SECRETARY
It is the duty of the Directors of the company to ensure that the company secretary appointed is a suitable person who has requisite knowledge on regulatory issues affecting the company or the experience to discharge the functions of a company secretary.
Thus, a company secretary shall be either of the following as provided under Section 295 of CAMA;
a.) A member of the Institute of chartered secretaries and administrators
b.) A legal practitioner
c.) A member of the Institute of chartered accountants of Nigeria
d.) A body corporate or firm consisting of members who are qualified or
Anybody who has held the office of a secretary of a public company for at least three (3) to five years.
Flowing from the above qualifications, it is trite to state that not only an individual can act in a company secretary capacity but also firms and corporate
REMOVAL OF COMPANY SECRETARY
A Company Secretary of a private company may be removed by the Directors in accordance with the provisions of his contract. In removing a Company Secretary of a public company; the Board must give notice to him stating their intention to remove him, state the grounds on which they intend to remove him; give him at least 7 (seven) working days within which to make his defense and give him an option to resign from his office within a period of 7 (seven) working days, failing which the Board shall remove him if his defence against the grounds in the notice are not cogent.
NB: This article is not a legal advice, and under no circumstance should you take it as such. All information provided are for general purpose only. For information, please contact chamanlawfirm@gmail.com
WRITTEN BY CHAMAN LAW FIRM TEAM
EMAIL: chamanlawfirm@gmail.com
TEL: 08065553671, 08024230080