Each company in Singapore must now maintain separate registers which state both Nominee Directors and their Nominators, and who the Controller of the Singapore company is. This information will be held by the Company Secretary.
The Ministry of Finance (MOF) and the Accounting and Corporate Regulatory Authority (ACRA) invite the public to provide feedback on proposed amendments to the Companies Act, Limited Liability Partnerships Act, and Accountants Act. This public consultation will run from 27 December 2016 to 13 January 2017. Read More
FURTHER changes to the Companies Act are afoot, along with proposed amendments to the Limited Liability Partnerships Act, and the Accountants Act. Notably, the current round of proposed changes covers much-awaited updates to rules governing information on beneficial ownership. More details
SINGAPORE: Nearly two-thirds of local businesses felt that Singapore's economic climate has declined in 2016 and nearly half of the companies polled expect the situation to worsen in 2017, according to latest findings from the National Business Survey released on Wednesday (Dec 28). Read more
Private companies that have not updated shareholder information in the Register of Members in electronic format (EROM) maintained by ACRA, are reminded to do so before 3 Jan 2017. With effect from 3 Jan 2017, private companies that have yet to update the EROM will not be able to file their Annual Returns. For more details, please [...]