AGM and Annual Return for a SMALL Private Limited Company
All Singapore incorporated companies are required to hold their Annual General Meeting (AGM) and file their annual returns under S175, S197 and S201 of the Companies Act. At the AGM, directors shall present a true and fair view of the company’s accounts to their shareholders. The Companies Act does not prescribe the minimum level of […]
AGM and Annual Return for a Private Limited Company (Not Exempt From Audit)
All Singapore incorporated companies are required to hold their Annual General Meeting (AGM) and file their annual returns under S175, S197 and S201 of the Companies Act. At the AGM, directors shall present a true and fair view of the company’s accounts to their shareholders. The Companies Act does not prescribe the minimum level of […]
What is XBRL filing? Do I need it?
XBRL is a form of reporting language adopted by ACRA for the purpose of financial statements reporting by companies that are required to be lodged accounts with the authority. Types of Company Filing of Financial Statements Public / Private companies (limited/unlimited by shares), except those under (a) and (b) Full set of XBRL financial statements […]
What happens if I am late for my AGM or Annual Returns?
If you are unable to hold your AGM or lodge your Annual Return on time, penalties will be imposed in accordance to the Companies Act. As a recap, there are 4 sections governing the AGM and AR filing requirements for private companies: Section 175 – Annual General Meeting (AGM) A private company is required to […]
The Company Secretary
Company Secretary Companies appoints a secretary to assist in the administration of a company. Company secretaries are officers of a company and have certain responsibilities to fulfill. Only public companies are required to appoint a properly qualified person as a company secretary. Every company is required by law (S171) to appoint a Company Secretary. In […]
The Company Directors
Directors All companies are required to have officers. Directors are officers of the company that manages or directs the business of the Company. The broad guidance for the basic duty of a Director is enshrined in Section 157 of the Companies Act, which states that a director shall at all times act honestly and use […]
The Company Shareholders
Shareholders All companies are required to have at least one shareholder. The shareholder can be local or foreign person who is an individual or a corporation. Shareholders are essentially the owners of the Company. A shareholder can either be or not be appointed as a Director of the Company. For shareholders who are directors of […]
The Auditor
A company needs to appoint an external Auditor under the Act within six months from its date of incorporation, unless the Company is exempt from doing so. Most companies are Exempt Private Limited which means that most companies do not need to appoint an auditor nowadays. You will need to appoint an Auditor on a […]
Important Pointers from the Companies Act
Company Act is a set of statutory provisions governing companies. This means that the Act adopts a “hard and fast” rule approach, rather than common law (although the Act is supplemented by common law as well). Registering a Company A company can be incorporated by the lodgement of the memorandum and articles of the proposed […]
