A Company Secretary is not just an employee of the Company, he can take a corporate to the highest level with his capabilities and expertise knowledge in the Corporate Laws. He is not just the master of Company Law but also he knows the Interpretation of Law. So, he can become the master of all the Laws like Labour Laws, Taxation Laws, Banking Laws and other Laws that a Company needs to Comply with.
DEFINITION OF COMPANY SECRETARY
As per Section 2(24) of the Companies Act, 2013 A Company Secretary means a Company Secretary as defined under Section 2(1)(c ) of the Company Secretaries Act, 1980
Who is appointed by the Company to perform the functions of a Company Secretary.
It means that The Companies Act, 2013 does not clearly define the word Company Secretary. So we have to take a look to the Company Secretaries Act, 1980 for the definition of Company Secretary.
As per Section 2(1)(c ) of Company Secretaries Act, 1980, “Company Secretary” means a person who is a member of the Institute of Company Secretaries of India.
So to become a CS one needs to take the Membership of ICSI. For this a person needs to clear all the exams conducted by the Institute and to undergo the specified training.
APPOINTMENT OF COMPANY SECRETARY
Section 203 of Companies Act, 2013 read with rule 8 & 8A of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2013 states that the following Companies need to appoint a Whole Time Company Secretary
1. Listed Companies.
2. Public Companies having paid-up share Capital of Rs. 10 Crore or more.
3. Every Private Company having paid-up share capital of Rs. 10 Crore or more.
As per Section 203 of the Companies Act, 2013 the Company Secretary is designated as Key Managerial Personnel of the Company. If you check the information of a listed Company on the Website of Stock Exchange, then the Name of the Company Secretary will also appear in the Management Team.
ROLES AND RESPONSIBILITIES
OPPORTUNITIES TO A COMPANY SECRETARY
OFFICER IN DEFAULT
As per Section 2(60) of the Companies Act, 2013, A Company Secretary is regarded as the officer in default. So, the Company Secretary will be penalized whenever the Company in which he is employed, does not Company with the Act.