• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer
Conventus Law

Conventus Law

Conventus Law

  • About Us
  • Channels
    • Jurisdiction Channel
    • Practice Area Channel
    • Industry Channel
    • Business Of Law
    • Law Firms
    • Special Reports
  • Video
  • Events
  • Explore
  • Search
  • Membership
  • Conventus Doc
x
Search

More results...

Generic filters
Home » Special Report » Singapore – Companies (Amendment) Bill.

Singapore – Companies (Amendment) Bill.

April 29, 2015

April 29, 2015 by

The Companies (Amendment) Bill No.25 of 2014 (“CA Bill”) that was passed on 8 October 2014 sought to develop the corporate framework through reducing regulatory burden on companies. More than 200 changes will be implemented in the Companies Act, marking it as the most extensive set of amendments since the Companies Act was first enacted.  

 

 

The first key proposal aims to expand the scope of companies who are exempted from having their accounts audited. This is done through introducing the “small companies” category, which comprises a private company who meets at least 2 of the following criteria in each of the previous two financial years: (a) Total annual revenue of not more than SGD 10m; (b) Total assets of not more than SGD 10m; and (c) number of employees does not exceed 50. These small companies will still be required to keep proper accounts. The second key provision will provide more flexibility in raising capital through repealing the current one-share-one-vote restriction, and allowing public companies to issue shares with different voting rights, including special or limited rights.     

 

The other provisions in the CA Bill include: (1) permitting private companies and companies limited by guarantee to adopt the whole or part of several model constitutions prescribed for different types of businesses; (2) allowing the registers of private company members to be maintained by ACRA; and (3) extending the requirement of disclosing conflicts of interest in transactions and shareholdings in the company and related corporations to CEOs in order to recognize the increasingly important role that these CEOs play in company decisions.

  

Another significant change in the CA Bill entails the abolishment of financial assistance prohibition for private companies. The lift in this restriction allows private companies to adopt a business-friendly approach to acquisition deals involving private companies without undergoing time-consuming “whitewash” procedures. Although public companies and their subsidiaries will still be subject to the financial assistance prohibition, the CA Bill creates a new exemption function where they will be allowed to acquire shares in the company or a holding company so long as it does not materially prejudice the interests of the company, shareholders, and its ability to pay its creditors.     

 

RHTLTWlogo+slogan-RGB  

 

For further information, please contact:

 

 

Nizam Ismail, Partner, RHTLaw Taylor Wessing

nizam.ismail@rhtlawtaylorwessing.com

 

RHTLaw Taylor Wessing Regulatory & Compliance Practice Profile in Singapore

 

Regulatory & Compliance Law Firms in Singapore

Primary Sidebar

PRESS RELEASES

  • US – Skadden, Elena Coyle And Leslie Demers Recognized In New York Legal Awards. 4 July 2025
  • US – Linklaters Advises DigitalBridge On The Acquisition Of Yondr Group. 3 July 2025
  • China – Lektou Sponsors The 929 Challenge. 3 July 2025
  • India – IPBC Global 2025. 2 July 2025
  • Four Crowell Attorneys Named World Trademark Review 2025 Global Leaders. 2 July 2025

NEWS FEED

    July 4, 2025

    Special Alert | Vietnam’s Amended Enterprise Law 2025: Key Updates And Strategic Implications For Businesses.

    July 4, 2025

    A New Road To Damascus: Trump Administration Lifts US Sanctions On Syria.

    - Brian J. Egan - Skadden,
    July 4, 2025

    Malaysia – Legal Updates June 2025 (2).

    - Anand Raj - Shearn Delamore & Co,
    July 4, 2025

    Malaysia – Court Of Appeal Upholds Validity Of Option Clause In Arbitration Agreement And Grants Stay Under Section 10 Of The Arbitration Act 2005.

    July 4, 2025

    Data Protection In Indonesia: A Brief Overview.

    - Winnie Yamashita Rolindrawan - SSEK,
    July 4, 2025

    China – Chinese New Governance Paradigm For Livestream Sale.

    July 4, 2025

    Registration Process For Overseas Reinsurers In China.

    - Zhan Hao - Anjie Broad Law, AnJie Broad Law Firm
    July 4, 2025

    Trademark Enforcement In Malaysia – How Counterfeits Affect Businesses.

    July 3, 2025

    Revisiting The UK’s Post-Brexit Civil And Commercial Justice Landscape.

    July 3, 2025

    Vietnam – New Regulations On Ultimate Beneficial Owners: A Step Towards Transparency And Key Considerations For Foreign Investors.

    - Hoang Nguyen Ha Quyen - LNT & Partners,

Footer

Conventus Law
  • Facebook
  • Twitter
  • Linkedin

CONVENTUS LAW

  • About Us
  • Explore
  • Video
  • Events
  • Contact Us
  • Jurisdiction Channel
  • Practice Area Channel
  • Industry Channel
  • Law Firms
  • Business Of Law
  • Special Reports

OTHERS

CONVENTUS DOCS
CONVENTUS PEOPLE

3/f, 13/F, Two Harbourfront, 22 Tak Fung Street, Hunghom, Kowloon, Hong Kong

social@conventuslaw.com

Terms of use | Privacy statement © 2025 Conventus Law. All Rights Reserved.