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Is it Possible for a Singapore Company to have Multiple Company Secretaries?

3 min read|Last Updated: July 20, 2022|
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Singapore companies and Multiple Company Secretaries

Every company based in Singapore is required to have a minimum of one company secretary.

This is a requirement which is specified in the Companies Act. The stipulations which have been specified in the Companies Act not only state that every company in Singapore must appoint a company secretary; they also mention the details of who is allowed to take this important role.

Every company secretary in Singapore is to fulfill 2 requirements:

  • A natural person
  • who is also a resident of Singapore.

This company secretary is also recommended to have a level of experience which is commensurate with the duties of the position as well as academic and professional qualifications which are deemed acceptable.Such qualifications are to be verified by the company’s directors before the company secretary is appointed.

Certain people in Singapore are also prohibited from becoming company secretaries of Singapore-based companies. These people include those who have violated any of the stipulations of the Companies Act. Such people will have a debarment order placed against them by the authorities. Any company in Singapore is not allowed to select a company secretary if, on the date of appointment, the person to be selected has a debarment order.

Appointment of Multiple Company Secretaries

Some company owners in Singapore might choose to appoint multiple company secretaries. There are several reasons why a company might do so:

  • It could be the case that the company in question has a great many corporate secretarial tasks to be completed; too many for just one company secretary to complete.
  • Some companies might also require all of their corporate secretarial tasks to be completed urgently for specific reasons. If it is not possible for one company secretary to complete all of the tasks required before the deadline, the company could consider hiring additional company secretaries.

Whatever the cause behind the hiring of multiple company secretaries may be, such company owners will be pleased to discover that in Singapore, there is no law which prohibits a company from hiring more than one company secretary. Although the Companies Act requires at least one company secretary to be hired, it does not mention a maximum number of company secretaries. This omission thus allows a Singapore company to hire as many company secretaries as desired.

Having said that, it may sometimes be difficult for a Singapore-based company to hire even one company secretary. It is not always easy to find a person who fulfils all of the necessary criteria who is also deemed to be of the requisite competence for the completion of all of the company’s secretarial duties.

This is where we at Paul Hype Page & Co can be of assistance to you. We will help you select a person we believe to be capable of delivering high-quality secretarial work. The person we will select to serve as your company secretary will ensure that you will not have to concern yourself with the company’s secretarial matters, thus allowing you to place more emphasis on your company’s business activities in order to maximize its profits.

FAQs

What does a corporate secretary in Singapore do?2022-06-27T12:00:13+08:00

The role of a company secretary is crucial as they perform important tasks for the company, the directors, and shareholders. They help companies by:

• Fulfilling of all statutory obligations
• Practicing of proper corporate governance
• Protecting of the company’s corporate interests
• Advising directors on important business matters
• Providing any necessary practical support

Occasionally, they would share relevant information with the company’s directors, assisting them to be more active and engaged during board meetings.

How much does a company secretary cost in Singapore?2022-06-27T11:59:36+08:00

The cost of a company secretary in Singapore is $600 if you engage us as an existing client.

Who can be a professionally qualified company secretary in Singapore?2022-06-27T11:59:08+08:00

Professionally qualified corporate secretaries must fulfil at least one of the following criteria:
• 3 – 5 years’ experience as a Company Secretary
• Qualified person under the Legal Profession Act
• Public accountant under the Accounts Act
• Member of the Singapore Institute of Certified Public Accountants
• Member of the Singapore Association of the Institute of Chartered Secretaries and Administrators (SAICSA)
• Member of the local branch of Association of International Accountants
• Member of the Institute of Company Accountants Singapore

What to consider when hiring a company secretary in Singapore?2022-06-27T11:58:20+08:00

A company secretary in Singapore should:

• Be well-versed with Singapore company law – Singapore Companies Act and ACRA
• Possess appropriate qualification and experience – Up to date towards recent statutory corporate governance and compliance requirements.
• Have adequate organisation and administrative skills – Handling of company’s official documents and registers, filing matters, and are responsible to file any statutory changes and updates of changes in capital share structure and many others.
• Possess financial analytics skills – It comes handy in supervising the company’s share allotments, reviewing the financial statements and reports, as well as vetting the tax assessments.

Is the company secretary and corporate secretary the same?2021-01-04T16:12:41+08:00

No, a corporate secretary manages all the administrative tasks of a company whereas a company secretary serves as a legal advisor for a company.

Is Company Secretary mandatory in Singapore?2021-01-04T16:12:19+08:00

Yes, every company needs to appoint a company secretary in Singapore.

What does ‘company secretary’ mean?2021-01-04T16:11:54+08:00

A company secretary is usually appointed by a director or director of a company. His primary duty is to take on some of the directors’ responsibilities and to reduce their workload. They can prove to be useful in ways such as maintaining and filing statutory registers and company records. Assisting the directors when needed is also the job of the Singapore company secretary.

Must the Company Secretary a local resident of Singapore?2021-01-04T16:11:00+08:00

Yes, the company secretary must be a local resident of Singapore

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