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Published on September 5, 2007

But things will change when the amended Securities and Exchange Act is implemented.

Under the law, listed companies are required to appoint a "company secretary". Once this position is filled, everyone will certainly change their views on the role of secretaries.

Stock Exchange of Thailand executive vice president Suthichai Chitvanich said company secretaries would assume an important role in ensuring that their company and their board of directors comply with laws and regulations.

According to Chalee Chanthanayingyong, senior assistant secretary-general of the Securities and Exchange Commission, a company secretary will be appointed by the board of directors. (Wow, from this procedure, company secretaries are as important as chief executive officers, who also need approval from the board of directors.)

Plus, they are required to deeply understand the nature of business of their company and the rules and regulations involved. They have to monitor whether the board of directors is properly carrying out its duty in line with the securities law.

To highlight their importance, the exchange hosted a seminar yesterday. And it will soon publish instructions which summarise the duties and responsibilities of company secretaries.

No matter how important they will be, these secretaries are like ordinary secretaries in one aspect. They are required to handle so many tasks. No wonder why the seminar topic was "108 Tasks of Company Secretaries". The term "108" is widely used in Thai society to demonstrate a large number of jobs inflicted on one person.

Yet, unlike ordinary secretaries who are subjected to reprimands or pay cuts when they do something wrong, these secretaries are subject to legal punishment.

Hmm, one is curious how much they will earn, given the grand scale of their responsibility and accountability.

achara_d@nationgroup.com