Malaysia Company Directors require a qualified and approved secretary to confirm or check company reports to empower the procedure of incorporation at the Companies Commission Malaysia (CCM) to occur and the affirmation of the company documents will be set up to empower business exchange and dealing to commence.
It is the must for the secretary to be a characteristic individual of full age who has his place of living residence in Malaysia. He should be an individual from an endorsed body or is authorized by the Registrar of Companies in Malaysia. The company should likewise designate a qualified and approved auditor in order to conduct, prepare the audit account and tax as well.
A Company Secretary is an expert whose part in a corporate set up in that of a counselor for lawful matters. He or She is an imperative member of a management of the company to handle all paperwork’s, statutory records and procedural matters that running of the organization includes. A Company Secretary has been perceived by corporate law as one of the officers of the Company.
Requirements for Malaysia Company Secretary
Each company should have one or more secretaries, each of whom might be a characteristic person of full age. With impact tenth September 1992, NO PERSON might go about as a company secretary to an organization unless:-
- He is an individual from an expert body, or any other body, which has for time being recommended by Minister
- He is authorized by the Companies Commission of Malaysia (CCM). Any individual who negates the above necessity should be blameworthy of an offense against the Companies Act might be at risk to a punishment not surpassing Five Thousand Ringgit.
- A man who wants to do business in Malaysia should first enlist a business firm or consolidate a company with Suruhanjaya Syarikat Malaysia. A qualified individual having to permit Company Secretary is obligatory by the organizations Acts, 1965 to be selected to perform the duties.
- The Company’s registration is only possible by the Company Secretary. An enrolled or registered company is a company formed or incorporated by registration under company’s act 1965. The incorporation is regulated by the Suruhanjaya Syarikat Malaysia. Both enrollments go under the purview of the Ministry of Consumer Affairs and Domestic Trade
Responsibilities of Malaysia Company Secretary
In large as well as small size business associations, a company secretary part incorporates consolidation of the Company, preparing applications for administration arrangements, compensations, between corporate venture and credits, taking care of open issues including posting of shares and debentures, leading both board and general meeting, support of records, registers and minutes of the gatherings or meetings. So, it would suffice to say that all lawful and procedural matters according to the Companies Act and all other material laws fall under the obligations of a Company Secretary.
A Malaysia company secretary of today is an organization officer who is supported with heavier obligations and a more noteworthy force, obligations which request moral conduct from organization secretaries at all times.
Appointment of a Malaysia Company Secretary
The Companies Act 1965 requires that each company in Malaysia must have one secretary; however, an organization is permitted to appoint more than one secretary. The organization secretary might be delegated by the Board of Directors, however, does not stipulate the methodology for the appointment of a secretary in Malaysia.
Resignation or Removal of Malaysia Company Secretary
A Company Secretary may leave the company by giving resignation letter to the board of directors.
The position of the empty secretary must not be left unfilled for over one month.
Form 49 – Reflecting the abdication and appointment of new secretary must be held up with the Registrar of Companies. Generally, in Malaysia, the expulsion of secretary and appoint of new secretary is done at the same time.