The company secretary positions involve the understanding of the corporate laws, governance and compliance. Company secretaries’ knowledge and skills are valued in the government departments.
Most government departments involved in corporate and legal sectors and regulatory bodies such as SEBI and RBI hire CS professionals in various departments.
Due to the partnership of many companies with the government sector, the employment opportunities for CS specialists have expanded.
DUTIES OF A COMPANY SECRETARY IN GOVERNMENT SECTOR
The company secretary in government departments is responsible for legal affairs and corporate governance of corporations or businesses in which the government has an interest or stake.
The Companies Act of 2013 enhanced the role and powers of the company secretary in addition to legal work that he or she used to perform. The specific tasks and obligations of a CS could change based on the type of government agency, but their general responsibilities include the following:
Corporate Governance – COMPANY SECRETARY IN GOVERNMENT SECTOR
The company secretary makes sure that all the rules, regulations and policies of the concerned government department or business sector are followed.
They are involved in scheduling board meetings, preparing the meeting schedule and ensuring that the company policies and procedures are implemented.
Legal Compliance – COMPANY SECRETARY IN GOVERNMENT SECTOR
The legal and regulatory duties of the company secretary are to ensure that the company complies with the legal requirements set by the government.
It involves the preparation of annual returns, maintenance of company records and submission of documents to the relevant authorities.
Communication and Reporting – COMPANY SECRETARY IN GOVERNMENT SECTOR
The company secretary ensures that the communication between the board of directors, shareholders, and government agencies is arranged.
It entails the production and dissemination of annual reports, financial statements, and other relevant papers.
Advisory Role – COMPANY SECRETARY IN GOVERNMENT SECTOR
The company secretary provides necessary advice to the senior management and the board of directors on legal, governance and compliance matters.
The CS also assists management in assessing and appraising legal demands and their implications for business.
Record Keeping – COMPANY SECRETARY IN GOVERNMENT SECTOR
A company secretary is supposed to ensure that all records of the company are correct and up to date, including all contracts, legal documents, and any other data that may be useful for the corporate management of the company.
Communication with Regulatory authorities – COMPANY SECRETARY IN GOVERNMENT SECTOR
Yet another responsibility of a CS is to liaise with the authorities such as the RBI, SEBI, IRDI and other relevant departments to ensure compliance with important regulations and reporting requirements.
FACILITIES AVAILABLE TO COMPANY SECRETARY IN GOVERNMENT SECTORS
- Government sector company secretaries are well respected and appreciated because of the high-profile responsibilities they handle. Company secretaries in the government sector have much power and authority compared to other employees, which makes them different from the other employees.
- A company secretary working in the government sector receives a decent remuneration package depending on the size and type of the business, the experience of the candidate, and the government pay structure and policies. Company secretaries also get some other benefits like insurance, housing, and travel allowance as per the government rules.
- The job satisfaction of a company secretary in the government sector is higher because of the authority and power to decide and direct others. The company secretary gets to interact with the leadership team more often and this enables them to gain better insights of the industry and hence enhances their career prospects.
The prospects of a Company Secretary in Government Sector
In India’s government sector, company secretaries have a great scope and functions. Many government jobs are available for company secretaries in various fields of operation.
The following is a list of a few positions and fields available for company secretaries in government jobs:
- Legal and secretarial officer
- Finance officer
- Company secretary and compliance officer
- Head of corporate communication and public relations
- Experts in taxation
- International trade expert
- Specialist in takeover, mergers, and acquisition
Some of the specific fields where company secretaries are allowed to apply their skills and expertise are as follows
- Services related to securities compliance and certification
- Public Issues, securities and listings management
- Services related to audit compliance and certification
- Corporate governance services
- Business and financial consulting
- Corporate secretarial services
The importance of a company secretary has been well understood due to the specialized knowledge and expertise that he or she possesses especially in the government organizations.
In addition to the legal requirements, the duties of a company secretary have been enhanced to include the formulation and the implementation of measures of good corporate governance.
If you are aspiring to pursue a career as a company secretary in the government sector, prepare yourself to qualify for the CS executive course with the help of Unique Academy for Commerce online executive classes.
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