The Companies (Amendment) Act 2014 (Amendment Act) was passed by Parliament in October 2014, introducing the largest number of changes to the Companies Act since its enactment in 1967. The changes are intended to reduce the regulatory burden on companies, provide for greater business flexibility and improve the corporate governance landscape in Singapore. The Amendment Act is targeted to take effect in 2015.
This article highlights some of the key changes being made to the Companies Act. Further information on the amendments is available at the Accounting and Corporate Regulatory Authority (ACRA) website.