Cap. 10:31
PUBuc ENnTIES
Cor<PoR"'WE GovERN.ANCE
No. 4/2018
CoMPANY SEcRETARY
Principles
132. A company secretmy plays a pivotal role in the corporate governance of
a company. He or she is the gate-keeper of good corporate governance and for this
reason the Board should appoint a suitably qualified, competent and experienced
company secretary capable of maintaining a cordial but ann's length relationship with
the members of the Board at the personal leveL
133. A company secretary must be appointed where it is mandatmy to do so. In
other cases, consideration should be given to appointing a company secretary where
the size of the company and the demands of its business require it.
134. The power to appoint and remove a company secretary vests in the Board or
other authority depending ou the nature and size of the company or entity concerned.
135. The Board should be aware of the company secretary's duties and should
empower the company secretary to properly fulfill those duties.
136. The company secretary should not be a director of the company unkss the
nature and size of the company or entity makes it necessary and the law permits it to
be done.
Recommendations
137. A company secretary should strive to achieve the realization of good cor_(X)rate
governance principles by, among other things(a)
(b)
assisting the nomination committee by ensuring that the procedure for
the aplX)intment of directors is complied with;
assisting in the proper induction, orientation, ongoing training and
education of directors and assessing their individual training needs and
those of executive managers in their fiduciary and other governance
responsibilities;
(c)
assisting and guiding directors in appreciating their role, responsibilities
and duties, and discharging them in the best interests of the company;
(d)
providing a central source of advice to the Board and within the company
on matters of good corporate governance, law and any developments or
changes thereto;
(e)
having a direct channel of conununication with the chairperson and
being available to provide comprehensive practical support and advice
to chairpersons of the Board and Board committees;
(f)
ensuring that-
(i) the charter of the company and the tenns of reference of the Board
and its committees are kept up to date;
(ii)
sittings of the Board and Board c01mnittees are properly recorded
and that minutes are circulated witl1 the approval of the relevant
chairperson;
(iii) Board resolutions are implemented timeously and effectively;
(iv) Board members are collectively and individually evaluated annually;
(v)
his or her role, functions and duties are assessed by the Board
annually and any amendments thereto are effected;
(g)
being res_(X)nsiblc for the proper compilation and timely circulation of
Board packs;
(h)
assisting the chairpersons of the Board and Board committees in drafting
yearly work plaiis;
127
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