In accordance with the Companies Act, every Singapore registered company is required to appoint a company secretary. In many instances, companies may outsource this position, as well as the duty to maintain corporate compliance, to a corporate service provider like Singapore Secretary Services. The role of the Company Secretary is to assist in the administration [...]
On the 10th of January 2022, the Singapore parliament passed the Corporate Registers (Miscellaneous Amendments) Act. This act amends the Companies Act and the Limited Liability Partnerships Act. This act adds the requirement for Companies registered in Singapore to keep registers of nominee shareholders and their nominees. This requirement will plug the gap regarding the [...]
After the incorporation of a company, the first board meeting should be convened. This is a meeting of the directors of the company. The meeting is usually done about one month after the date of incorporation. This meeting should set out the basic structure of the company. The resolution can be in one singular document [...]
A Company and a Limited Liability Partnership (LLP) are both incorporated entities which mean that they have a separate legal personality from their ownership. We encounter a lot of queries about which business structure is best recommended for people looking to set up business structures and more often than not, we usually gravitate and recommend [...]
We have seen cases whereby clients have confused the roles of shareholders and directors. In this article, we will be explaining the roles and powers of the shareholders and the directors. The shareholders are the owners of the company. The directors, on the other hand, are the management of the company. Thus the management powers [...]
Companies are required, in accordance with the Personal Data Protection Act (PDPA), to appoint a data protection officer (DPO) to ensure that the company is compliant with the act. The details of the DPO should be made publicly available. Typically, companies will put this information on their website. In the event of a breach or [...]
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 [...]