Both, public and private limited companies are required to appoint a company secretary. The only difference between the two is the stringency of hiring, as public limited companies have more strict guidelines than the private, yet, bottom line, public and private companies should be able to hire high calibre company secretaries.
Public company secretary Singapore qualifications
Company act of Singapore, Section 171 (1AA), clearly states that someone, particularly a company secretary working on public limited companies should be qualified, and should meet at the least, one of the criteria below:
- He or she should have worked as a company secretary for at the least, 3 of the 5 years immediately the date she or he is hired and perform the role as the public company’s secretary. Their tenure in the industry and their most recent experience are important factors to consider when hiring a company secretary for a public limited company
- He or she is a qualified professional under the Legal Profession Act
- He or she is a public accountant, duly registered in the Accountants Act
- He or she should be a member of the Singapore’s prestigious Institute of Certified Public Accountants
- He or she should be one of the members of Singapore’s Association; Institute of Chartered Secretaries and Administrators
- He or she should be an official member of Singapore’s Branch; Association of International Accountants
- He or she should be a part of Institute of Company Accountants in Singapore
With all these in mind, you may find it not easy to find the best match for your business requirements. So, instead of doing all these legwork by yourself and your team, might as well consider corporate secretarial Singapore. Other than the convenience in the hiring process, there is a lot more you can do and benefits you can get from doing so.
Hiring the right company secretary
When you were able to hire the right company secretary to work for you, whether you are in the public or private limited company, expect that he or she can be a huge part of your business success. The responsibilities attached to this role are huge and critical, hence choosing based on expertise and knowledge are definitely not enough.
The Singapore law takes part in the selection process by putting the qualifications of a company secretary in an Act, where everyone (public or private) needs to abide.