Appoint UK company secretary for a public limited company is compulsory and it is optional for a private limited company.
A public limited company (PLC) must appoint a company secretary as required by the Companies Act. It is the duty of your company directors to take all reasonable steps to secure that your company secretary has the requisite knowledge, experience and qualifications. One of the reasons of such strict rules on appointment of secretary is that statutory filings for a PLC is stricter and more complex compared to a private company. Especially, public limited company that have their shares quoted in the London Stock Exchange.
Whereas the appointment of a company secretary of a private limited company is optional. However, if you wish to appoint a company secretary, the person does not need to have a professional qualification required to that of a company secretary for a public limited company.
Skills and qualifications
Generally, your company secretary must have the following skills and qualifications detailed below. The person to hold the secretary position must be or have,
- At least three of the five years immediately proceeding his appointment as your company secretary.
- A barrister, advocate or solicitor called or admitted in any part of the United Kingdom.
- Capable of discharging the functions of a company secretary.
- Member of any of the professional bodies listed below.
Additionally, the person to hold the company secretary position must be a member of at least one of the following professional bodies.
- Institute of Chartered Accountants in England and Wales (ICAEW)
- Institute of Chartered Accountants in Scotland (ICAS)
- Association of Chartered Certified Accountants (ACCA)
- Institute of Chartered Accountants in Ireland
- Institute of Chartered Secretaries and Administrators
- Chartered Institute of Management Accountants (CIMA)
- Chartered Institute of Public Finance and Accountancy