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ACRA Compliance

Filing Annual Returns of a Local Company

All locally 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. Companies can be incorporated if you are a foreign individual, a company or if you are a local Singaporean Resident. More on company incorporation matters here. 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 qualifications for the person preparing the accounts. However, it will be the responsibility of the directors to appoint individuals with the required level of expertise for preparation of such accounts. When to Hold an AGM and File Annual Return?

Requirements

Descriptions

Companies Act

Annual General Meeting (AGM)

1. A company is required to hold its first AGM within 18 months after its incorporation.

2. Subsequent AGMs must be held every calendar year and the interval between AGMs should not be more than 15 months.

Section 175

Audited/Unaudited Accounts

The Annual Return must be filed with the Registrar within one month after the AGM.Section 197

Public/Listed Company

For a public company listed or quoted on a securities exchange in Singapore: Accounts presented at the AGM shall be made up to a date not more than 4 months before the AGM.

In the case of any other company: Accounts presented at the AGM shall be made up to a date not more than 6 months before the AGM.

Section 201
Posted on October 16, 2012 at 7:05 pm
Categories: Company Secretary Service

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