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Company Officeholder Duties

Company Officeholder Duties

Multiracial business people with laptop solving the company issues
Company Meeting

Who is a Company Officeholder?

A company officeholder refers to anyone in charge of an office, usually a secretary or a director. An officeholder as the name implies takes care of all activities in the office.

The position of company’s officeholder is governed by the Corporations Act of 2001.

Who is a Director?

Serious determined young business man

A director is at the helm of affairs in a company. He guides, controls, directs the organisation and management of the company. The director is one who represents the company in and outside board meetings.

The work of a director is described as hectic because it often concerns legal liabilities. As a director, you are expected to be transparent in all your dealings. Your primary aim must be to improve the current state of the company. In addition to ensuring the government’s smooth running through proper record-keeping, the director must learn to separate personal sentiments from work and represent the company’s best interests always.

Director of company

Requirements to be a Director

 To be appointed as an officeholder, you must fulfil the following requirements as stated under the law:

Who is a Secretary?

Businesswoman and secretary working with documents in office

A secretary assists the director in the day to day running of the company through accurate details and records keeping. He or she is in charge of all correspondences being received or forwarded to the company.

A secretary must be confidential and have a high sense of responsibility. They sometimes perform advisory functions.

Competent young business secretary

Duties of a Company Secretary

Requirements to be a Secretary

The Directors are generally in charge of appointing secretaries by the provisions of the Corporations Act, 2001 which include:

Finally, the Act does not explicitly forbid a person to act as both the director and the secretary. A review of their duties suggests it will be disastrous to have one person occupy both positions.

High angle view of business people with paperwork at table in office
Paperwork Routine In Evening

Record Keeping in A Company

The company deals a lot with paper works and often takes various records for reference purposes. Financial documents usually present in an office include cheques, invoices, contracts files, receipts, and entry books, among others.

Nowadays, it is now becoming a trend to keep records online rather than the traditional way. However, the best way is to save documents both ways- electronically and offline.

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