Public feedback sought on amendments to Companies, LLPs Acts

The government is proposing four key amendments to transparency and beneficial ownership of companies and limited liability partnerships.

The government is seeking feedback for the amendments proposed by the Ministry of Finance (MOF) and the Accounting and Corporate Regulatory Authority (ACRA) to the Companies Act and the Limited Liability Partnerships Act.

The proposed changes are set out in the draft Corporate Registers (Miscellaneous Amendments) Bill, composed of four key amendments related to transparency and beneficial ownership of companies and limited liability partnerships (LLPs).

These changes are meant to reduce the opportunities of misuse of corporate entities for illicit purposes such as money laundering, terrorism financing, and other threats to the integrity of the international financial system.

The public consultation documents can be accessed on the websites of the MOF, ACRA, and REACH consultation portal.

Interested parties can submit their comments via email to MOF_Public_Consultation@mof.gov.sg, using the subject line “Public Consultation on Corporate Registers (Miscellaneous Amendments) Bill” until 30 July.

Follow the links for more news on

Join Singapore Business Review community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

Exclusives

C&W Services transforms headquarters into a ‘living lab’
The new office is set to be the ground for the firm’s new facilities management technologies.
How investor stewardship puts companies in a win-win state
Stewardship Asia Centre CEO says a company’s failure to take care of society is a failure to take care of its stakeholders.
Creating harmony in a heterogonous workforce 
An HR expert said tests like DISC can help identify which employees can work best together.