Certified Company Secretaries: Does your company need one?
Company Secretaries are a legal requirement for to operate a business in Kenya. This is outlined in Chapter 534 of the laws of Kenya. This position is set out by Kenyan law to fulfill compliance matters required for any company to be in business.
What do Company Secretaries really do?
Corporate management practices continue to change and evolve with the changing market dynamics, technology, and laws. To comply to all regulations governing business operation in Kenya, all companies must consider all relevant legal & Business requirements. Hence, the company secretarial roles include:
- Preparation of statutory documents
- Registration compliance
- Observance of regulations on share register
- Provision of legal support on maintenance of statutory internal control standards
- Filing of statutory returns to all relevant offices such as the Registrar of companies
- Offering technical and advisory service to the board
- Providing basic legal support and references
- Organizing General and board meetings
- Seal custody
- Filing of annual company returns
- Drafting of Board Charters and Governance documents
How to get a Certified Company Secretary for your company
Getting a Certified Company Secretary is a task that should be carried out by your company’s board. The secretary, once appointed becomes responsible for all operations of the board. Company Secretaries report to the Chief Executive or Chairperson of the organization. As a business, you may hire a Certified company secretary, or outsource the service. Scribe Registrars is one such Certified Company Secretary from whom you can get company secretarial services.
Who qualifies as a Company Secretary?
Under the laws of Kenya, there are specific requirements for anyone to be certified to offer company secretarial services. These include:
- Undertaking the Certified Secretaries course offered by KASNEB
- Register with the Registration of Certified Public Secretaries
- Become a Member of the Institute of Certified Public Secretaries in Kenya (ICS)
DID YOU KNOW? Companies with less than Kshs. 5 million paid up share capital are not required or obligated to retain a company secretary?
