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 country’s primary legislation governing every company in the country. 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 be a natural person who is also a resident of Singapore. This company secretary is also required 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. Still other owners of companies based in Singapore might prefer to hire more than one company secretary because they believe that although more money will be spent on the services of company secretaries, the presumed return on investment which would result would exceed the expenses related to the company secretaries’ respective hirings. 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.