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Legal Dictionary

corporate secretary

Legal Definition of corporate secretary

Noun

  • Officer of a corporation responsible for the official documents of the corporation such as the official seal, records of shares issued, and minutes of all board or committee meetings.

Definition of corporate secretary

Further reading

A company secretary is a senior position in a private 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.

Despite the name, the role is not a clerical or secretarial one in the usual sense. The company secretary ensures that an organisation complies with relevant legislation and regulation, and keeps board members informed of their legal responsibilities. Company 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 company secretary, and this person will also usually be a senior board member. The earning capacity of senior level company secretaries is often underestimated. The average salary of a company secretary working in a FTSE 100 organisation is 180,000. Due to the current economic down turn in Ireland, the average salary of a trainee assistant company secretary has been revised to 16,000.

References:

  1. Wiktionary. Published under the Creative Commons Attribution/Share-Alike License.



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