Amendments in Statutory Requirements for AGM and Filing of Annual Return with ACRA
With the aim to make Singapore maintain its position as an economically competitive and business-friendly country, there have been certain legislative changes relating to Annual General Meetings (“AGMs”) and Annual Returns (“ARs”) timelines to alleviate the regulatory burden with effect from 31 Aug 2018.
In addition to that, a simplified process was started for dormant private relevant companies and solvent EPCs to file Annual Returns.
Key changes in the statutory requirements includes the following:
- Alignment of timelines for holding AGM and filing AR with the Financial Year End (FYE).
- Introducing specific safeguards for private companies exempted from holding AGMs.
- Starting a simplified process for the filing of annual returns for Dormant Companies and solvent Exempt Private Companies (EPC).