22nd January 2021
A company secretary is an officer of the company, who takes on specific responsibilities and duties. Unlike in a public company, there’s no longer an obligation for a private limited company to appoint a company secretary unless it’s specifically requested in the articles of association.
Many private companies do appoint a company secretary, however, to ensure the full completion of the company’s administrative and legal duties, and as an adviser on corporate governance.
Company secretaries take on some of the directors’ responsibilities day-to-day, but the directors remain legally responsible for the company overall. Disqualified directors, un-discharged bankrupts, and the company’s auditor, aren’t able to become a company secretary.
The company secretary is responsible for ensuring compliance with the Companies Act, 2006, and carries out a number of administrative tasks, including:
A company secretary has responsibilities under the Companies Act, 2006, and could be penalised in certain instances, such as failing to file the company’s accounts or confirmation statement.
If you need any further information on the role of company secretary, or are concerned about your own company’s financial situation, call one of our licensed insolvency practitioners.
Real Business Rescue will ensure you understand your duties and responsibilities in insolvency, as a director or company secretary, and can limit your exposure to personal liability or action taken by the liquidator. For a free same-day consultation, call one of our expert team – Real Business Rescue provide director advice online, over the phone, or in-person at one of our 100 UK offices or a place of your convenience.
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