Legal Framework and Statutory Mandate
Statutory Qualifications and Eligibility
Under the Chartered Secretaries Act, 2010, a person must be a member of the Institute of Chartered Secretaries of Bangladesh (ICSB) to practice as a professional Company Secretary. For listed companies, the CS must be a functional head and cannot hold the position of Chief Financial Officer (CFO) or Head of Internal Audit (HIAC) simultaneously.
| Requirement Type | Statutory Reference | Applicability |
|---|---|---|
| Mandatory Appointment | BSEC CG Code 2018, Condition 3(1) | Listed Companies |
| Professional Qualification | Chartered Secretaries Act 2010, Sec 2(1)(g) | All Professional CS |
| Filing of Appointment | Companies Act 1994, Section 115 | All Companies (Form XII) |
| Tax Compliance | Income Tax Act 2023, Section 166 | Authorized Representative |
The Appointment Process Roadmap
Core Statutory Duties
- Maintenance of Statutory Registers: Ensuring compliance with Section 89 (Register of Members) and Section 115 (Register of Directors) of the Companies Act, 1994.
- Board and General Meetings: Issuing notices for AGMs and EGMs under Section 81 and Section 87, and recording minutes as per Section 89.
- Filing with RJSC: Timely submission of Annual Returns (Schedule X) and changes in particulars of directors/officers.
- Corporate Governance Compliance: Certifying compliance with the BSEC Corporate Governance Code for listed entities.
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Schedule a Compliance AuditFrequently Asked Questions
Is it mandatory for a private limited company to have a Company Secretary?
While the Companies Act 1994 does not strictly mandate a CS for small private companies, Section 109 implies that every company must have officers to perform statutory duties. However, for listed companies, it is mandatory under Condition 3(1) of the BSEC Corporate Governance Code 2018.
What is the deadline for notifying RJSC about a new CS appointment?
Under Section 115(2) of the Companies Act 1994, a company must file Form XII with the Registrar of Joint Stock Companies and Firms (RJSC) within 14 days of the appointment.
Can a Director also serve as the Company Secretary?
In Bangladesh, a director can be appointed as a Company Secretary in a private company, but for listed companies, the BSEC Corporate Governance Code 2018 requires the CS to be a distinct functional head to ensure checks and balances.
◆ Related Statutory Guides & Practice Insights
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