managing authorities in company

1. Objective
To Learn
1. The concept chief executive and secretary
in company
Secretary
Definition:
The officer appointed to perform the
secretarial, administrative duties in company.
Qualification:
Academic
Highly qualified in the field of
Accounting
Auditing
Company law
Taxation
(Charted accountant)
Others Qualification
 Sound in General Education
 Knowledge of the Office Management
 Familiar with the Commercial Law
 Will verse in English
 Good Personality (Optional )
 Disciplined
 Energetic etc
Duties:
Statutory Duties
 To Maintain the Statutory book and
Register
 Filing of Return
 Statutory Declaration with Registrar
 Recording of Data of all Meeting
 Affixing of Seal
 Deduction of Tax
General Duties:
 Prepare and Issue Notices for Meetings
 Attend all the Meeting
 Prepare Allotment Letters
 Share Certificate
 To Protect the Company Property
 To Supervise the Office Machinery
 To Read the Notice of Meeting
 To Co ordinate with all Department
Restriction:
 Cannot Enter in to a Contract
 Cannot Borrow Money
 Cannot Issue writ in the Company
 Cannot Register the Transfer
 Cannot Struck out the Member
 Can not Issue a Summon for Meeting
 Appointment :
By Resolution
By an Agreement
 Remuneration :
Will be specified in Prospectus the
Contract and all detail as well
 Termination ;
- By giving Notice
- Without Notice if make any Secret Profit
- If Debenture Holder Appoint any Manager
- If the order for Compulsory Winding up is
made
- Passing of a Resolution for Voluntary
Winding Up
Chief executive
Definition:
A Person who is Appointed by the Directors
to Manage the whole Affair of the Company
under the Control of Director
Appointment:
First Chief Executive
- With in fifteen days of incorporation or
- From the date of its Commencement of
its Business
- whichever is earlier
Subsequent Chief Executive
Within fifteen days of the Election of the
Director
Re appointment:
Eligible for Reappointment
Qualification:
Must be competent and eligible for
the Post of Director
Disqualification:
As for the Director
Term of Office:
First Chief Executive
Up to the first AGM
-Subsequent Chief Executive
After three year
(Term and Condition are Determine by the
Director)
Removal:
- By the Resolution of Director
- Passed by three Forth Majority of The
Total Number
-By the Special Resolution of the Company
(The Removal will be Valid even if it is
Contrary to AOA)
Restriction:
Neither He Nor his Family Member can
Engage in Similar Business
Penalty:
Otherwise he will be punished
Subject: Company Law
Standard: LL.B second year
Topic: Managing authorities in Company
MUNIR HUSSAIN KTK
Lecturer
UNIVERSITY LAW COLLEGE
QUETTA
www.facebook.com/pages/Corridor-to-Commercial-Law