On May 2 2013, the Accounting and Corporate Regulatory Authority (ACRA) and the Ministry of Finance (MOF) released the first draft of the proposed Singapore Companies (Amendment) Bill 2013; a groundbreaking law to strengthen Singapore`s corporate regulatory framework modelled on the UK, Australia and Hong Kong.  Reviewing the recommendations of the Companies Act Steering Committee, the second round of public consultation has ended on June 14, 2013 and stakeholders are awaiting the final timeframe for ratifying and enforcing these legislative changes.

The proposed rules will have a significant impact on directors` duties, shareholders` rights, law of meetings, capital maintenance, accounts and audit as well as general company administration reducing regulatory burden, enhancing operational effectiveness as well as corporate governance across all industries in Singapore.

For an up-to-date assessment of this unprecedented law, attend ALB`s Singapore Companies (Amendment) Bill Masterclass on Sep. 10, 2013.

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