Frequently Asked Questions

What are the legal duties of a company secretary in Australia?

In Australia, a company secretary has critical legal duties under the Corporations Act 2001. For public companies, they must ensure compliance with statutory and regulatory obligations, including filing annual financial reports, maintaining company registers, and notifying ASIC of any changes, such as director appointments or share issuances.

A company secretary is also responsible for ensuring the company meets its corporate governance obligations. This includes overseeing board meetings, documenting decisions, and ensuring directors understand their legal responsibilities. For ASX-listed companies, the secretary ensures compliance with ASX Listing Rules, including continuous disclosure requirements and shareholder communication obligations.

Failure to meet these legal duties can lead to penalties for the company and, in some cases, personal liability for the company secretary. This is why it’s essential to have a knowledgeable professional in the role.

Outsourcing these services is an effective way to ensure legal compliance without needing a full-time employee. Experienced governance experts stay updated on regulatory changes and help businesses meet their obligations efficiently. Whether preparing resolutions, lodging documents with ASIC, or advising on governance issues, a company secretary ensures the company operates within the law.