Enforcement action for breach of the legal requirements by a registered filing agent

If ACRA’s investigation shows that a breach of the legal requirement has been committed, and after a show cause process has been administered, ACRA has the power to take any of the following actions:

  1. Cancel or suspend the registration of the registered filing agent;
  2. Restrict the registered filing agent’s use of the electronic transaction system to such extent as ACRA thinks fit;
  3. Require the registered filing agent’s to pay a financial penalty not exceeding $25,000 for each breach, within a specified period; or
  4. Issue a censure to the registered filing agent. 

If the registered filing agent fails to pay the stipulated financial penalty, ACRA may proceed against him according to (i) or (ii) above. 

Enforcement action for breach of the legal requirements by a registered qualified individual 

If ACRA’s investigation shows that a breach of the legal requirements has been committed, and after a show cause process has been administered, ACRA has the power to take any of the following actions:

  1. Cancel or suspend the registration of the registered qualified individual;
  2. Restrict the registered qualified individual’s use of the electronic transaction system to such extent as ACRA thinks fit;
  3. Require the registered qualified individual to pay a financial penalty not exceeding $10,000 for each breach, within a specified period; or
  4. Issue a censure to he registered qualified individual. 

If the registered qualified individual fails to pay the stipulated financial penalty, ACRA may proceed against him according to (i) or (ii) above. In addition, ACRA may cancel or suspend the registration of a registered qualified individual if he has in his capacity as a registered qualified individual, made any declaration, statement or undertaking under any legislation administered by ACRA that is false or misleading, or that he was not authorised to make.

Cancellation of registered filing agent’s registration by ACRA

ACRA may cancel a registered filing agent’s registration in the following circumstances:

  • If he does not have at least one registered qualified individual and fails to obtain a replacement registered qualified individual within 60 days or by the time his registration expires; 
  • If he is no longer a sole proprietor, partnership, company, limited liability partnership or limited partnership registered under the various ACRA administered legislation, for example, the Companies Act;
  • For ceasing to meet the fit and proper requirements, or not providing the services or carrying out the functions of a filing agent; or
  • If he has applied to ACRA for his registration to be cancelled and the cancellation has been approved by ACRA.  ACRA has the discretion not to cancel the registration of a registered filing agent if there are any complaints against him pending investigation. 

Cancellation of registered Qualified Individual’s registration by ACRA

ACRA will cancel a registered qualified individual’s registration in the following circumstances:

  • If he has ceased to be a qualified individual; 
  • For ceasing to meet the fit and proper requirements; or
  • If he has applied to ACRA for his registration to be cancelled and the cancellation has been approved by ACRA. ACRA has the discretion not to cancel the registration of a registered qualified individual if there are any complaints against him pending investigation. 
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