Categories
COSEC

What are the provisions when a juristic person or a partnership is appointed to hold the office of company secretary?

Chapter 3 – Question 13

Written by Dr. Adv. Leigh Hefer & Jayne Hunter-Rhys. COMPANY SECRETARY’S HANDBOOK (2021). Published by Genesis Corporate Services.

  1. Section 87(1) provides that a juristic person or partnership may be appointed to hold the office of a company secretary, provided that every employee of that juristic person who provides company secretary services, or partner and employee of that partnership, satisfy the requirements of section 84(5).
  2. In other words, that person must not be disqualified to serve as a director and at least one employee of that juristic person or one partner or employee of that partnership, satisfies the requirements of section 86(2).
  3. Section 86(2) provides that every company secretary irrespective of whether the appointment is made as required by section 86(1) or in terms of a requirement in a company’s MOI, as contemplated in sections 34(2) and 84(1)(c)(ii), must have the requisite knowledge of, or experience with relevant laws and be a permanent resident of the Republic, and remain so while serving in that capacity.
    • Source: Sections 86, 87 of Companies Act 71 of 2008; Companies Regulation 44

Hard copy and E-Book Publications for the Professionals, Company Secretaries, Company Directors, Prescribed Officers, Members of CCs, Business Owners, Lecturers, and Students on various business, compliance, and legislative topics.