Compared to company registration, appointing a company secretary for SME is relatively simple and is managed by either an existing or new company secretary.
Whether it is because your existing company secretary is retiring or you decided to go for a digital company secretary, the appointment of the new company secretary can be done either by the existing company secretary or the new company secretary that you have decided to appoint with the approval from the board of directors. As stated in the Companies Act 2016, the company secretary position should not be vacant for more than 30 days. Hence it should be done as soon as the decision to appoint a new company secretary is made.
Depending on the terms of appointment, there may be a notice period for the company secretary who resigned. According to Section 237 of the Companies Act 2016, you can request the existing company secretary to submit their resignation letter after clearing all pending payment to them.
If the company secretary is unreachable due to certain reasons, the termination of the company secretary can be done according to Section 239 of the Companies Act 2016 where the resignation letter is not required.
Compared to the registration of a company, the process of appointing a new company secretary for your SME is relatively simple. Information needed for the preparation of the required documents for the new company secretary appointment are as follows:
Directors are required to sign some documents for the appointment of the new company secretary. Through a digital company secretary like Foundingbird, these documents can be signed electronically. The required documents are as follows:
These changes will be submitted to SSM by the company secretary to update the company information on the new company secretary and registered address.
Just like many other professional service providers such as accountants and lawyers, the company secretary industry is competitive where there are over 16,000 licensed company secretaries in Malaysia, according to the SSM Annual Report 2017. Hence, choosing the right company secretary for your company to perform their duties is crucial so that you can leave the important but time-consuming legal compliance tasks to them and focus on your business.