A private
secretary is a senior position in a company or public organisation, normally in
the form of a managerial position or above. In the United States it is known as
a corporate secretary. The Private
Secretary is responsible for the efficient administration of a company,
particularly with regard to ensuring compliance with statutory and regulatory
requirements and for ensuring that decisions of the Board of Directors are
implemented.
Despite
the name, the role is not a clerical or secretarial one in the usual sense.
The private
secretary ensures that an organization complies with relevant legislation and
regulation, and keeps board members informed of their legal responsibilities. Private
Secretaries are the company’s named representative on legal documents, and it
is their responsibility to ensure that the company and its directors operate
within the law. It is also their responsibility to register and communicate
with shareholders, to ensure that dividends are paid and to maintain company
records, such as lists of directors and shareholders, and annual accounts.
In many
countries, private companies have traditionally been required by law to appoint
one person as a private secretary, and this person will also usually be a
senior board member.
You
could incur fines or even criminal charges for failure to file the Annual
Return. You could, potentially, be disqualified , prosecuted or made liable for
company debts if the law is broken. You could be subject to criminal
proceedings, if the company trades fraudulently, or if company funds are
misappropriated. If you are also a director, you could be held personally
liable for the company's debts, if there has been wrongful trading. Failure to
ensure that the directors are acting properly in the conduct of the business
could leave you with personal responsibility for its debts.
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