A company secretary is a senior position in a private company or public organisation, normally in the form of a managerial position or above. In the United States it is known as a corporate 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.
Despite the name, the role is not a clerical or secretarial one in the usual sense. The company secretary ensures that an organisation complies with relevant legislation and regulation, and keeps board members informed of their legal responsibilities. Company secretaries are the company’s named representative on legal documents, and it is their responsibility to ensure that the company and its directors operate within the law. It is also their responsibility to register and communicate with shareholders, to ensure that dividends are paid and to maintain company records, such as lists of directors and shareholders, and annual accounts.
The use of the word secretary in the name of this specialisation is a bit misleading for one who is new to the concept. A Company Secretary has nothing to do with regular secretarial work. A Company Secretary is a professional whose role in a corporate set up is that of an advisor for legal matters. As per the Companies Act, a statutory requirement is that companies with a paid up share capital of a minimum of500 lakh are required to appoint a Company Secretary. A Company Secretary is a very important member of the company’s management.
Today's global scene shows a focus on the development of the corporate sector. Growth automatically translates into the involvement legalities of various kinds. And this falls under the purview of a Company Secretary. Companies need advice from a person with a thorough knowledge of all relevant laws. This service is provided for by the Company Secretary. So the employment potential in the corporate sector is very high. Openings are also available in government sectors, in bodies like the Bureau of Public Enterprises, government financial institutions and stock exchanges. Other government openings are the Accounts branch of the Central Government Law Services; the finance, law, accounts and merchant banking divisions of nationalized banks. An option for the academically inclined is as lectures in universities. A combination of experience and expertise can lead to appointment at top level positions like chairman, directors and managing director, in reputed organizations.
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