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Company secretarial, what is it about?

What is company secretarial, first of all?
 
Right, this is perhaps where I should start from, given the confusion revolving around it.
 
Company secretarial, or cosec in short, covers the many legal/administrative matters of a company, starting from correctly keeping its statutory registers (register of members, of people with significant control, directors, etc...), to drafting the minutes of meetings, to the compliance with the procedures provided by the Companies Act, to the filing of all relevant notifications with Companies House. It also involves the preparation of all paperwork required to allot new shares, transfer shares, and to effect any procedures relating to a company's shares.
 
In large companies and PLCs, company secretarial involves additional compliance requirements provided for those type of entities.
 
A company secretary typically collaborates with accounting firms to maintain their portfolio of clients’ companies but it is not rare that they also work with law firms for specific ad hoc projects. And given nowadays technologies and the set trend towards flexible working, the idea of outsourcing to external company secretaries is more and more appealing to those firms.
 
It’s never redundant to say that the cosec work can be invaluable in both ensuring that any company is compliant with the Companies Act 2006 and giving all stakeholders, particularly the shareholders, peace of mind about their position in the company being correctly formalised.
 
I am not shareholder in any company other than mine but, if I was, my first priority would clearly be being sure that my papers are all in order.
 
In fact, what I like about my job is that it allows me to represent a point of reference to all those clients who rely on me for the correct compliance of their companies as they, rightly so, expect this to be done with the necessary diligence and punctuality.
 
 


on March 27 at 11:39

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