FUNCTION OF A COMPANY SECRETARY

A company secretary is recognizes as one of the principal officers of the company. The company secretary is the person who entask the compliance of the corporate laws. He is also responsible for managing the various statutory meetings of the company. The code of Corporate Governance which is now a part of the listing regulations of all Stock Exchanges sets various responsibilities of a company secretary in relation to compliance of corporate laws and code of Corporate Governances. The qualification of a company secretary was not previously defined under the Companies Ordinance, 1984 however, the code of Corporate Governance prescribes the qualification of a company secretary of a listed company. The knowledge and training makes a company secretary versatile to carry out various functions in finance, accounts, legal, administrative and personnel areas in addition to his own secretarial duties and responsibilities. In fact his role starts from the very moment when the idea of formation of a Company is conceived.

EMPLOYMENT PROSPECTS

Almost every kind of organization whose affairs are controlled whether by boards, councils or otherwise needs to appoint a secretary, by virtue of law, to manage the legal affairs independently. The position of company secretary is the key management position in a company. After the implementation of Code of Corporate Governance the employment prospects have very much enlarged. All listed companies have to appoint a company secretary who fulfills the qualification prescribed in the Code of Corporate Governance.

A qualified member of the Institute of Corporate Secretaries of Pakistan may, therefore, find an opening as a company secretary, assistant company secretary or an intermediate level administrative position depending upon the size of the organization. However after the attaining the position of a company secretary, he does not necessarily reach the zenith of his career but by virtue of his academic background, professional expertise he may aptly suited to become a member of the board or the governing body of an organization. Bureau of public enterprises, State Bank of Pakistan Government of Pakistan , Stock Exchanges, Nationalized Banks recommends the names of senior company secretaries on their panel for appointment as directors in public sector companies or as members of advisory committees. Many senior members have become chairman, managing directors and whole-time directors in many companies.

SELF-EMPLOYMENT (PRACTICE)

A member of the Institute of Corporate Secretaries of Pakistan may also practice as a practicing company secretary. However, the concept of a practicing company secretary is in initial stage of development but in the developed countries the practicing company secretaries are working successfully. A company secretary in practice may be called upon by the promoters to incorporate a new company or amalgamation, merger, reorganization or winding up of the company. He may act as an authorized representative of a company in respect of filing, registration, presentation, attestation, verification of documents (including forms, application and returns) by or on behalf of the company. He may also offer the serves as share registrar, issue house, stock broker, a secretarial auditor, a consultant or an adviser to a company on management affairs including any legal or procedural matter falling under the Companies Ordinance 1984. He may give consultancy on issues in respect of the rules or bye-laws of stock exchange, the monopoly control authority or under any other law for the time being in force.