Although private companies are no longer required to appoint a formal secretary, these services are still needed to be carried out in both public and private companies.
Despite this, a large number of people at times overlook this important area of company law and believe it to be just an administrative burden with little real effect. To know about benefit administration services visit https://getstratford.com/
However, the truth is totally the opposite. Appointing a secretary can be extremely beneficial for your business since he undertakes a wide range of responsibilities for an organization. Out of multiple tasks that he performs, a few core ones include the following:
Ownership
The secretary is responsible for maintaining the statutory registers, such as the register of members, for a company. This document comprises information related to who owns the company. It is the register of members at Companies House that determine this and not the share certificate or the records or a contract.
In a large number of situations, poorly maintained records have resulted in confusion as to who is the owner of the company and has eventually lead to disastrous consequences.
Company Law
Professionals delivering secretary services offer consistent guidance and advice to directors on chief aspects of company law. This will usually comprise of the need for declaring a dividend, decision making, and issuing new shares. Without this professional advice, the actions taken by the directors might be invalid, illegal, or possibly criminal in nature.