Duties Of A Company Secretary?

What Is A Company Secretary?

The company secretary is a named representative on all legal correspondence for a company. When setting up a company in Ireland it is a requirement to have at least one director and one secretary. This is an obligation under the companies Act 2014. It is the Directors job to make sure that one is appointed. They should ensure that the person they appoint is aware of their duties and that they are capable of carrying them out. A company secretary must be over the age of 18 years of age and be able to contribute and legally partake in their obligated duties as company secretary.

What Are The Responsibilities Of A Company Secretary?

The company secretary has an abundance of duties. If appointed they should ensure they have a strong knowledge of legal company requirements  and have a good grasp of Irish company Law. They are responsible for compliance of all company regulation. It is their duty to ensure that legislation is covered. They provide a strong level of support to the board of directors and help with administration and legality. The company secretary keeps track of all of the companies statutory and regulatory requirements. These requirements include:

  • Filing the Register of beneficial owners with the RBO.
  • Annual Return filing – in line with all tax regulations.                                                                                                                                                                                                Single Director Company Formation
  • Maintaining statutory registers.
  • Recording minutes of meetings.
  • Custody and use of the company seal – used for the signing of legal documentation for the company.
  • Submission of all necessary documentation to the CRO – this includes documentation in line with any change in the company.
  • Provides knowledge and guidance about company obligations.

It is notable to say failure to comply with any of these company requirements can lead to serious consequences. Lack of compliance or delays with submissions and filings can lead to hefty fines, personal penalization and even company strike offs.

What Irish Formations Can Provide?

Irish Formations can act as nominee secretary for a standard fee. This means we sit in the seat only and hold no power or take no action on behalf of the company. This service is particularly useful if you do not have another person to act as Secretary. A lot of companies will decide to outsource their company secretary duties. This ensures the security of expertise. Irish Formations can provide expertise on duties such as the ones named above (i.e. Filing the register of beneficial owners, Annual returns, etc,.)  These are included in our premium pack.