Full guide to Appoint a Company Secretary

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Full guide to Appoint a Company Secretary
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How does the law define a company secretary?

• A company secretary is a representative of the
  Institute of Company Secretary of India (ICSI)
  and discharges all the roles and responsibilities
  of an advisor of the company in which they are
  employed.

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Official roles and responsibilities

• Looking after the arrangements for the meetings
  of the Board of Directors and general meetings
• Sharing information with the members of the board
  about their legal responsibilities
• Corporate governance
• more...

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Limitations of a company secretary

• A company secretary cannot sign up for a contract
  without approval for the same from the Board of
  Directors. Also, they need to follow the same
  process while registering or transferring shares.
• They cannot borrow money on behalf of a company.
• They cannot arrange for third party meetings
  within their capacity.

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The legally approved procedure for the appoint of
a company secretary

• The candidate who is considered for the post must
  state their consent or willingness to accept
  designation by writing a letter.
• The final step in the procedure is the record he
  details of the appointment of a company secretary
  in the Register of Directories or Secretaries.

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Duration for the appointment of a company
secretary

• There is no hard-and-fast rule regarding the time
  duration for the appointment of a company
  secretary. However, for most companies, it is the
  best to appoint a company secretary when the
  board members meet for the first time.

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Penalties and offenses associated with the
appointment of a company secretary

• According to The Companies Act 2013, the failure
  to comply with the law to appoint a company
  secretary can attract legal penalties for a
  company.

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