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Company secretaries now optional
Southampton-based chartered accountants HWB are advising business owners that the requirement to employ a company secretary is now optional.
The latest amendments to the Companies Act 2006, effective from April 2008, allow businesses to choose if they require company secretarial services or not.
Alan Williams, managing director for HWB, said: “Prior to these changes company secretaries were a statutory requirement.
“Now if companies choose to, they can inform Companies House that they no longer require company secretarial services. It is now possible and legitimate to have a sole director and no company secretary.
“Companies can however also amend their articles of association to include a requirement that a company secretary be employed. As the company secretary is an officer of the company, they may be liable for any default committed by the company.”
While a company secretary doesn’t have any official obligations, they often take care of many tasks that are legal requirements of a company, such as maintaining statutory registers, ensuring that the company files statutory information properly and supplying a copy of the accounts to those entitled to receive them.
HWB boasts a 60-strong team and is one of the largest independent practices in the region. The firm offers advice and guidance to many small to medium-sized businesses in sectors including construction, care, manufacturing, leisure and professional services.
HWB
Chartered Accountants, Highland House, Mayflower Close, Chandlers Ford, Eastleigh,
Hampshire, SO53 4AR.
