Does a Company Secretary need to be a lawyer?

Many ICSA qualified companies secretaries have a law degree or equivalent. Some companies are offering the opportunity to qualify as a lawyer in-house as a way of retaining top talent, something almost unheard of 10 years ago.

Can a Company Secretary become a legal advisor?

Company secretary plays the role of company law advisor. As per section 203 of Companies Act, 2013 a company secretary must be appointed by those companies who are having paid up capital of Rs. 5 crore or more and the appointed person must be the member of Institute of Company Secretaries of India.

Is corporate lawyer and Company Secretary are same?

Key differentiators between Company Secretary and Lawyer A Company Secretary is an advisor of legal affairs in a corporate setup whereas a lawyer does the same in a Court of Law.

Is a company secretary a good job?

The company secretary has a position of considerable influence and has a broad skill set across governance, strategy, corporate law and finance. The role will be particularly suitable to you if you have a strong interest in governance, are technically minded, have strong attention to detail and enjoy a varied workload.

Is company secretary stressful job?

No Stress: Company Secretary does not have any stress regarding meeting requirements and deadlines. The administrative work is required to be done but there is no such limitation of time. It is not that tough like other jobs where you feel stressed and gets problems related to health and dissatisfaction from the job.

What is the difference between legal advisor and company secretary?

Legal advisors follow Company law and also resolve disputes in different industries. Company secretaries work as administrators and consultants in companies. Legal advisors work as consultants with many companies. The different laws such as company law, SEBI, FEMA, and Banking laws govern the corporate governance.

Who can be appointed as a company secretary?

Generally, a corporate entity or firm, as well as an individual, may be appointed to the post of company secretary although in the case of public companies, due to the qualification requirements, this may not be possible. Additionally, a person may not hold the post of secretary of the company if he or she is also its auditor.

Can a company secretary be liable for a company wound up?

Breach of these duties may result in the secretary becoming liable to the company for damages. In particular, in the event of a company’s winding up, the court may award damages against any officer (including the company secretary) in respect of any misfeasance or breach of trust by him.

Can a person hold the post of Secretary of a company?

Additionally, a person may not hold the post of secretary of the company if he or she is also its auditor. The secretary’s appointment is generally governed by the company’s articles of association. These will commonly state that appointment and removal of a secretary will be a matter for the board of directors.

Can a company secretary assist with share transfers?

Company secretaries are often asked to assist in the administration of share transfers unless, as tends to be the case with larger and listed public companies, professional registrars are retained.