ensuring company compliance with legal obligations; managing and storing the company’s records, e.g. re investments, property, payroll, insurance, accounting, taxation (VAT, PAYE, Corporation Tax); and. liaison between the company and its stakeholders and shareholders.
What is the secretarial procedure relating to application of shares?
The secretary prepares share certificate and issues them to the allottees within three months of the date of allotment. The secretary then prepares Register of Members and enters all the particulars regarding allotment in it. Then the allottees become members of the company.
What are the duties of company secretary for alteration of share capital?
According to company Act –
- To sign documents and proceedings requiring authentication by the company.
- To deliver registration and return of allotment to the Registrar.
- To give notice to registrar for increase in the share capital.
- To deliver share certificate of allotment on within 2 months after transfer.
What are the duties of secretary regarding issue of debentures?
Under the Indian Stamp Act, the company secretary is responsible for documents such as the letter of allotment, share certificates, debentures, mortgages and to ensure that issued duly stamped.
What is the position of a company secretary?
A company secretary is merely an employee of the company. He supervises all ministerial and administrative activities. He has to carry out his duties in accordance with the instructions of the board. He performs every correspondence on behalf of a company.
What is the importance of share certificate?
Share certificate serves as an important document for shareholders to prove ownership in a company. Share certificate must be issued by a company after incorporation to its shareholders on receipt of money for capital.
What is the procedure of share?
Issue of Prospectus, Receiving Applications, Allotment of Shares are three basic steps of the procedure of issuing the shares. The process of creating new shares is known as Allocation or allotment. Let us see the two types of shares of a company and the procedure for issue of shares that a company must follow.
Who appoints company secretary?
Mandatory Requirements Company Secretary shall be appointed by means of a resolution of the Board containing the terms and conditions of the appointment including the remuneration. A Company Secretary shall not hold office in more than one company except in its subsidiary company at the same time.
What are the duties of a company secretary?
The Company Secretary, who is conversant with the procedure, helps the Board of Directors in the process of allotment, transfer and transmission of shares.
How is share certificate issued under Companies Act?
Share Certificate shall issue in form SH-I or near as possible. Certificate should specifying Name of Member. Every Certificate shall be under the Common Seal of the Company. It shall specify the Number of Shares it relates.
Where does share certificate have to be surrendered?
Original Share Certificate must be surrendered to the Company. Record of renewed and Duplicate Share Certificates shall be maintained in Form SH-2. The register shall be kept at registered office or where register of member is kept in proper custody. All entries made in register shall be authenticated by Company Secretary or authorized person.
What happens in case of dispute over share certificate?
In case of dispute prima facie evidence through share certificate get precedence, over the evidence of register of members, as the register of members, being under control of Company is susceptible to manipulation. What will be the fine and penalty on Company, if Company issue duplicate certificate with intent to defraud.
