In short, disqualified directors cannot hold director positions in local or foreign companies. Bankruptcy Disqualification under Section 148 of the Singapore Companies Act (CAP. 50) An individual who is declared bankrupt by a Singapore or foreign court cannot remain as or be appointed as a director of any company unless a Court Order [...]
There are times where the shareholders may decide to sell off their shares of the company. There may be an acquisition made on a company or the shareholders of the company may decide to cash out of their investment in a company. If the shares of the company are listed on a stock exchange, the [...]
Amending the company constitution in Singapore is a significant event as it is essentially amending the rulebook of the company. There are two types of alterations that are made: Amendments to the constitution that do not alter the objects of the company Amendments to the constitution that alter the objects of the company The word [...]
Amending the company constitution in Singapore is a significant event as it is essentially amending the rulebook of the company. There are two types of alterations that are made: Amendments to the constitution that do not alter the objects of the company Amendments to the constitution that alter the objects of the company The word [...]
The Market Readiness Assistance (MRA) provides a support level of up to 70% up to 31st March 2023. As announced at Budget 2021, the maximum support level of up to 80% will be until 31st March 2022. MRA will be enhanced to include Trace Credit Insurance as a supportable area under the overseas market set-up [...]
With effect from 30th July 2020, Companies and Limited Liability Partnerships (LLPs) are required to lodge the Non-Public Register of Registrable Controllers (RORC) information with ACRA. This is on top of them maintaining their own RORC. The process was initially started in mid-2020 but due to technical errors, the registrar, ACRA, delayed the e-service. On [...]
The Personal Data Protection Act The Personal Data Protection Act (PDPA) requires businesses to obtain clients' consent before obtaining and using their personal data. This article aims to help companies comply with the PDPA requirements when obtaining and using clients' personal data. Personal data refers to information that can identify the client. This data includes [...]
The SGUnited Jobs and Skills Package, the SGUnited Skills, SGUnited Traineeships and SGUnited Mid-Career Pathways Programmes, will get an additional SGD$5.4 billion. This will support the hiring of 200,000 locals in 2021 and will provide up to 35,000 traineeship and training opportunities. The SGUnited Jobs and Skills Package was first launched in May 2020 to [...]
For typical companies limited by shares, reducing the share capital of the company will involve one of two methods: Reducing share capital with the approval of the court (The court order method) Reducing share capital without the approval of the court (The non-court order method) For this article, we will be touching on the non-court [...]
The Personal Data Protection Act (PDPA) states that companies have to properly dispose of documents containing personal data. Failing which they may be penalised. Personal data refers to data from which an individual can be identified. Any data such as a person's name (or part thereof), identification number, passport details, height, weight, gender, bank details [...]