What is secretarial services?-their benefits for the companies

What is secretarial services?

Secretarial services have been given a new perspective in the corporate world. It just doesn’t comprise of filing and corresponding but also the compliance of statutory and legal issues which form the foundation of any company. They perform the function of bridging the gap between the administrative and geographical inadequacies in a formation of the company as every state or a country have their own drafted plethora of rules and regulations. Corporate secretarial service stands as a supporting structure to the company’s compliance needs regardless of nature of the company as the company secretary is adept in handling all types of company.

Benefits of secretarial services:

A company secretary has more responsibilities but some of them are as follows:-

  1. Ownership: This is the document that ultimately determines who owns the company. It’s not the share certificate, a contract or the records at Companies House that determine this, but the register of members.
  2. Company Law:  This will generally include the requirements for declaring a dividend; issuing new shares or taking different decisions. Without this advice, the actions of the directors may be invalid or quite possibly illegal and criminal in nature.
  3. Corporate Governance: Professionally delivered company secretarial services will ensure that the director’s decisions and their engagement with the shareholders are run, not just legally, but as a matter of best practice.
  4. Company Records: In smaller and less developed companies these can often be left to chance with the unfortunately consequence that the company relies on the (fading) memory of one or two individuals rather than well maintained records.

Assurance:

When a professional Company Secretary is tasked to do the filing of all legality and compliance issues regarding the inner workings of the company there is an assurance that the issues will be filed or sorted out perfectly resulting in the company’s smooth working or a transition into a different area of expertise like a private limited to a public limited company.

Annual general meeting:

Every company is obligated by law to hold an annual general meeting to apprise the shareholders the status of the company its profit and losses or any major changes in the company. This is can be done efficiently done by a Company Secretary as they are professionally equipped to draft and handle the AGM.

Advisory role:

The Company Secretary will also function as an advisor to the company in the matters of compliance or in improving the workings of the company as they can advise on the matters of appointing experienced people in higher posts which augment the company’s growth.

Tasks completion:

With a secretarial service in place, a company can be assured that there will be the timely completion of the statutory filings because a default in them can lead to serious consequences like fine, legal battle even imprisonment. The company can be free from these problems because secretarial service takes care of all these legalities and compliance issues.

Rest assured it is safe to say that with help of a secretarial service a company can focus on its day to day operations and in improving the efficacy of the company. A secretarial service performs the role of an advisor and an employee which also leads to lower cost as well as it acts as a guide who helps the company to breeze through the legal and compliance requirements because a Company Secretary is a person who is not only good with legality but also has a sound knowledge in improving the efficiency of the company. For more information visit www.rbgconsultant.com

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