CATEGORY: NEWS AND ANNOUNCEMENTS, PRESS RELEASES
1. The Ministry of Finance (MOF) and the Accounting and Corporate Regulatory Authority (ACRA) propose to make amendments to the:
a. Accountants Act 2004;
b. Accounting and Corporate Regulatory Authority Act 2004;
c. Companies Act 1967;
d. Limited Liability Partnerships Act 2005; and
e. Limited Partnerships Act 2008.
2. The amendments aim to (i) prevent misuse of companies for unlawful purposes; (ii) reduce regulatory burden for companies; (iii) safeguard shareholders’ interests; and (iv) enhance regulatory regime for public accountants. Consequential and related amendments are proposed to be made to other written laws to give effect to or align with these amendments.
3. We would like to seek feedback from members of the public on the proposed amendments in the Corporate and Accounting Laws (Amendment) Bill from 14 to 31 July 2025. The public can access the public consultation documents, including the draft Corporate and Accounting Laws (Amendment) Bill, on the REACH consultation portal. The public consultation documents are also available on the websites of MOF and ACRA.
4. We welcome feedback on the draft Bill by 31 July 2025. Interested parties can submit their comments via FormSG.
2025/07/14
