Part Two of Review of the Singapore Companies Act: Consultation on Draft Legislative Changes to Companies Act

Posted: 17 Apr 2014

See all articles by Wai Yee Wan

Wai Yee Wan

City University of Hong Kong (CityUHK) - Centre for Chinese & Comparative Law; Singapore Management University - School of Law

Date Written: 2014

Abstract

In an earlier note, WY Wan, “Recent Developments in Singapore on Company Law and Regulation: Review of the Singapore Companies Act” (2014) 35 Company Lawyer 143, this author discussed the first part of the main amendments to the Companies Act that were recommended by the Steering Committee for the Review of the Companies Act (Steering Committee) and which were accepted by the Ministry of Finance (MOF) on 3 October 2012. In May 2013, MOF and the Accounting and Corporate Regulatory Authority (ACRA) sought public consultation on the first part of the Draft Companies (Amendment) Bill 2013 which incorporated the proposed amendments.

In October 2013, MOF and ACRA sought further public consultation (Second Consultation) on the second part of the Draft Companies (Amendment) Bill 2013 that covers legislative amendments relating to foreign companies and other aspects of the Companies Act, including those relating to enhancing the powers of the Registrar of Companies to strike off companies and to share buyback limits. The proposals in the Second Consultation are independent from the proposals raised in the first consultation. This note discusses some of the more controversial, as well as the significant, changes that are proposed in the Second Consultation.

Suggested Citation

Wan, Wai Yee, Part Two of Review of the Singapore Companies Act: Consultation on Draft Legislative Changes to Companies Act (2014). Company Lawyer, 2014, Singapore Management University School of Law Research Paper No. 15/2014, Available at SSRN: https://ssrn.com/abstract=2425438

Wai Yee Wan (Contact Author)

City University of Hong Kong (CityUHK) - Centre for Chinese & Comparative Law ( email )

83 Tat Chee Avenue
Room P5300, 5th Floor, Academic 1
Kowloon Tong
Hong Kong

Singapore Management University - School of Law ( email )

55 Armenian Street
Singapore, 179943
Singapore

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