What does a Company Secretary do?
The range of services that a Company Secretary is trained to carry out is wide. In actual practice, it will depend upon the size of the company he or she is working with. The nature of activities that the company is engaged in will also affect the type of services that a Company Secretary is required to provide. Functions of a Company Secretary A Company Secretary has been recognised by law as one of the principal officers of the Company. The knowledge that he or she acquires during training makes him or her versatile enough to carry out functions in various areas like finance, accounts, legal administration and personnel division. Training as a Company Secretary equips a person to provide the following services. Handling legal aspects that need to be covered for incorporation, formation, promotion, amalgamation, reorganisation or winding up of a company, are the responsibilities of a Company Secretary ¨ If a company goes public, then management of the public issue falls under the ambit of a Company Secretary's responsibility. ¨ All legalities involved with inter-corporate investments and loans are looked after by a Company Secretary. ¨ All responsibilities attached to meetings of Board of Directors are attached to the Company Secretary. He or she is responsible for scheduling them in consultation with other members of the management team, conduct the meetings and maintain all records related to the meetings. ¨ Depending upon the needs of the company that he or she is working for, a Company Secretary is required to handle matters related to central/state sales tax, excise laws, labour laws and corporate laws. ¨ Looking into the details of processing applications for management appointments and their remuneration is also the responsibility of a Company Secretary. ¨ A Company Secretary handles matters related to obtaining institutional finance. Responsibilities in this regard would include getting project approvals, obtaining relevant licences and permits, zeroing in on all requirements under the MRTP (Monopolies and Restrictive Trade Practices Act) and FEMA (Foreign Exchange Management Act) and any other relevant legislation. ¨ The Company secretary is authorised to sign the annual returns of the company, as also represent the company when a situation demands it. The above-mentioned duties are just a broad guideline of what is expected of a Company Secretary.
PROSPECTS
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 nationalised 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 organisations.
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