chapter  11
8 Pages

Powers of directors

One hundred years ago, a company secretary would have found his powers were few. In this case, the South London Tramways Co had made an agreement with Messrs Green and Burleigh, who were contractors, to construct part of the tramline. As an officer, the secretary will be liable to a default fine for contravention along with directors under many provisions of the Companies Acts. As an officer, the secretary owes fiduciary duties to the company and is liable for any secret gain made from the company. Depending on the size of the headquarters staff, the company secretary may also be the chief accounting officer, have charge of staff employment and pension matters, obtain legal advice from solicitors and confer with the auditors. In a public company, a company secretary must possess a recognised qualification. Later, the company was wound up by the Stannary Court.