Picking a company secretary for your startup

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Apart from eating up my start-up funds, what role can a company secretary play? How do I tell the difference when there are so many ‘me-too’ company secretaries.

What the session will cover

The session will cover different startup scenarios, and how a company secretary applies to each.
role of a company secretary;
who can act as company secretary;
what makes a good secretary tick;
important events each company need to comply with annually;
filing changes on the ACRA website.


See more here: http://futurebooks.asia/blog/picking-the-right-company-secretary/7435

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Picking a company secretary for your startup

  1. 1. Prepared for directors of Singapore private limited companies As of August 2013 PICKING A COMPANY SECRETARY FOR YOUR STARTUP
  2. 2. www.futurebooks.com.sg SPONSORS
  3. 3. www.futurebooks.com.sg LAUNCH YOUR BIG IDEA
  4. 4. INTRODUCING THE COMPANY SECRETARY
  5. 5. www.futurebooks.com.sg WHAT WE WILL COVER
  6. 6. www.futurebooks.com.sg SMALL COMPANY Low relevance when the company is one shareholder / director
  7. 7. www.futurebooks.com.sg LARGE COMPANY High relevance when the company has multiple shareholders / directors
  8. 8. www.futurebooks.com.sg WHO CAN ACT AS A COMPANY SECRETARY
  9. 9. www.futurebooks.com.sg WHAT MAKES A GOOD COMPANY SECRETARY TICK? Pick me! Pick me!
  10. 10. www.futurebooks.com.sg A COMPANY SECRETARY IS NOT A hot chick on reception Handles admin work Can use a nail file
  11. 11. www.futurebooks.com.sg A COMPANY SECRETARY IS Specialized knowledge Organized Progressive and solution-orientated
  12. 12. www.futurebooks.com.sg POSSESS THOROUGH KNOWLEDGE
  13. 13. www.futurebooks.com.sg SET IMPORTANT DATES Put on your calendar
  14. 14. www.futurebooks.com.sg SET IMPORTANT DATES Two financial periods which have not been filed
  15. 15. www.futurebooks.com.sg SOLUTION- ORIENTATED How to resolve before annual filing
  16. 16. www.futurebooks.com.sg PROGRESSIVE Sign documents electronically via your mobile
  17. 17. DEFINITIONS
  18. 18. www.futurebooks.com.sg MINUTES RESOLUTION PROVISIONS
  19. 19. www.futurebooks.com.sg AGM EGM
  20. 20. www.futurebooks.com.sg COMPANY STAMP COMPANY SEAL
  21. 21. www.futurebooks.com.sg MEMORANDUM & ARTICLES
  22. 22. SCENARIO #1 AN INVESTOR ARRIVED
  23. 23. www.futurebooks.com.sg BACKGROUND
  24. 24. www.futurebooks.com.sg BEFORE INVESTMENT  
  25. 25. www.futurebooks.com.sg AFTER INVESTMENT   
  26. 26. www.futurebooks.com.sg PRE-EMPTIVE RIGHTS
  27. 27. www.futurebooks.com.sg CORPORATE REPRESENTATIVE
  28. 28. www.futurebooks.com.sg IMPLICATIONS
  29. 29. www.futurebooks.com.sg SCOPE OF WORKS • • • • • •
  30. 30. www.futurebooks.com.sg DECLARATION OF FUNDS • • •
  31. 31. SCENARIO #2 LATE PENALTY NOTICE FOR ANNUAL FILING
  32. 32. www.futurebooks.com.sg BACKGROUND
  33. 33. www.futurebooks.com.sg SET IMPORTANT DATES Two financial periods which have not been filed
  34. 34. www.futurebooks.com.sg IMPLICATIONS
  35. 35. www.futurebooks.com.sg SCOPE OF WORKS
  36. 36. www.futurebooks.com.sg COMMON ACRA PENALTIES Filing date Approx penalty fee / mnth Annual financial filing 30 days from AGM $50-100 Change in shareholding 30 days “ Change in director 30 days “ Change in registered mailing address 14 days “ Change in officers personal mailing address 30 days “ Appoint of audit firm 90 days from incorporation “
  37. 37. SCENARIO #3 CO-FOUNDER SPLIT
  38. 38. www.futurebooks.com.sg BACKGROUND
  39. 39. www.futurebooks.com.sg BEFORE CHANGE IN DIRECTORSHIP  
  40. 40. www.futurebooks.com.sg AFTER CHANGE IN DIRECTORSHIP  
  41. 41. www.futurebooks.com.sg AFTER SHARE ALLOTMENT  
  42. 42. www.futurebooks.com.sg SCOPE OF WORKS • • • •
  43. 43. SCENARIO #4 OPENING A BANK ACCOUNT
  44. 44. www.futurebooks.com.sg BACKGROUND
  45. 45. www.futurebooks.com.sg IMPLICATIONS
  46. 46. www.futurebooks.com.sg BANK OPERATING MATRIX
  47. 47. www.futurebooks.com.sg EXAMPLE BANK MATRIX       
  48. 48. www.futurebooks.com.sg SCOPE OF WORKS
  49. 49. www.futurebooks.com.sg TERMS OF USE

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