Veri Ltd. is the Public Ltd. Company. It has not appointed Company Secretary. As an internal auditor of the Company suggest whether the company has to appoint the Company Secretary including for the required qualification of the Company Secretary.

Auditing and Assurance Revision Questions and Answers

Answer
Section 185 of the company act deals with the provision for appointment of company secretary: Section 185 (1) states that public company with the paid –up capital of ten million rupees or more shall appoint the company secretary a Nepalese citizen who has the qualification mentioned in Sub-section (2) .

Section (2) states that a Nepalese citizen who has worked in the related field for at least two years after obtaining the professional certificate of company secretary issued a native or foreign body authorized to issue the professional certificate of company secretary pursuant to the prevailing law or who has worked in the related field or in the field of company management for at least three years after doing at least bachelor degree in law, management ,commerce or economics may be appointed to the post of company secretary. Provided, however, that this provision shall not apply to the company secretary who is incumbent at the time of commencement of this Act for three years after the date of commencement of this Act.

In the light of above provision of company act, I have to suggest the applicability of aforesaid provision for Veri Ltd. if it‟s paid up capital is Rs. 10 million or more.



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