Have you appointed a company secretary for your company?
A company is required by law, as seen in the Companies Act 71 of 2008, to appoint a company secretary. This is not a receptionist who answers the phone or types letters for you. The company secretary is an important person in business, required by law, with responsibilities.
s88 defines the duties of the company secretary:
- Maintain the company’s records and registers;
- Ensuring compliance with the Companies Act and other relevant legislation. Making the directors aware of any law relevant to or affecting the company;
- Providing guidance to the board of directors, collectively or individually on their duties and responsibilities;
- Ensuring that the company complies with its memorandum and incorporation and shareholders agreement;
- Making sure the minutes of meetings are completed correctly and retained;
- Making sure all returns and notices are filed correctly and record as such in the financials;
- This is not an exhaustive list.
Clearly a company secretary has an important role to play in any company. They need to work with the company directors to achieve the proper result and compliance. Directors need to refer to their company secretary for advise and guidance. The company secretary is not just the person who files the CIPC Annual Return every year. They need to have a working knowledge of the relevant laws to ensure compliance.
Consider who your company secretary is and make sure you have the right person appointed to help your business be compliant.
Business Soul Accounting provides Company Secretary services to a number of our clients. Please let us know if you need any assistance. We would love to care for your business.