Tuesday, March 1, 2011

How to find a good company secretary in Sri Lanka?

A wonderful company secretary !

(Picture credit - edugroomers.blogspot.com)

Once, a friend of mine had to deal with a “wonderful” company secretary :).

In my efforts to help her, I got to know many interesting facts about some of the secretaries in Sri Lanka, and thought I should share.

Why a company needs a company secretary?

1. Because the companies Act (No 7 of 2007 – Sri Lanka) say so.

221 (1) Every company shall have a secretary.

2. There are many duties in a registered company to be performed by a company secretary.

Who can be a company secretary in Sri Lanka?

Usually company secretaries are Attorneys at law, Chartered Accountants or members of the Institute of chartered secretaries.

(222. The secretary of every company having a turnover or stated capital of an amount prescribed under this Act, shall have such qualifications as may be prescribed, having regard to the nature of the duties the secretary will be called upon to discharge.)