Company Secretary
FUNCTION OF A COMPANY
SECRETARY
A company secretary is recognizes as one of the
principal officers of the company. The company
secretary is the person who entask the
compliance of the corporate laws. He is also
responsible for managing the various statutory
meetings of the company. The code of Corporate
Governance which is now a part of the listing
regulations of all Stock Exchanges sets various
responsibilities of a company secretary in
relation to compliance of corporate laws and
code of Corporate Governances. The qualification
of a company secretary was not previously
defined under the Companies Ordinance, 1984
however, the code of Corporate Governance
prescribes the qualification of a company
secretary of a listed company. The knowledge and
training makes a company secretary versatile to
carry out various functions in finance,
accounts, legal, administrative and personnel
areas in addition to his own secretarial duties
and responsibilities. In fact his role starts
from the very moment when the idea of formation
of a Company is conceived.
EMPLOYMENT PROSPECTS
Almost every kind of organization whose affairs
are controlled whether by boards, councils or
otherwise needs to appoint a secretary, by
virtue of law, to manage the legal affairs
independently. The position of company secretary
is the key management position in a company.
After the implementation of Code of Corporate
Governance the employment prospects have very
much enlarged. All listed companies have to
appoint a company secretary who fulfills the
qualification prescribed in the Code of
Corporate Governance.
A qualified member of the Institute of Corporate
Secretaries of Pakistan may, therefore, find an
opening as a company secretary, assistant
company secretary or an intermediate level
administrative position depending upon the size
of the organization. However after the attaining
the position of a company secretary, he does not
necessarily reach the zenith of his career but
by virtue of his academic background,
professional expertise he may aptly suited to
become a member of the board or the governing
body of an organization. Bureau of public
enterprises, State Bank of Pakistan Government
of Pakistan , Stock Exchanges, Nationalized
Banks recommends the names of senior company
secretaries on their panel for appointment as
directors in public sector companies or as
members of advisory committees. Many senior
members have become chairman, managing directors
and whole-time directors in many companies.
SELF-EMPLOYMENT
(PRACTICE)
A member of the Institute of Corporate
Secretaries of Pakistan may also practice as a
practicing company secretary. However, the
concept of a practicing company secretary is in
initial stage of development but in the
developed countries the practicing company
secretaries are working successfully. A company
secretary in practice may be called upon by the
promoters to incorporate a new company or
amalgamation, merger, reorganization or winding
up of the company. He may act as an authorized
representative of a company in respect of
filing, registration, presentation, attestation,
verification of documents (including forms,
application and returns) by or on behalf of the
company. He may also offer the serves as share
registrar, issue house, stock broker, a
secretarial auditor, a consultant or an adviser
to a company on management affairs including any
legal or procedural matter falling under the
Companies Ordinance 1984. He may give
consultancy on issues in respect of the rules or
bye-laws of stock exchange, the monopoly control
authority or under any other law for the time
being in force.
|
