To reduce the environmental impact and contribute to sustainability efforts, ISCA will contribute our part by eliminating the printing of course materials for selected courses with effect from 2023.
Tips: To make your paperless learning experience more enjoyable, you may bring along a digital device such as a Windows based laptops or tablets to read your online materials during the class. QR code will be provided in the class for you to download the materials in PDF.
Join us and be a Difference Maker! | | 
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Programme Objective
This seminar will provide an overview of the recent changes to the Singapore Companies Act and how these changes will affect decisions makers and stakeholders such as CEOs, CFOs, accountants, auditors and business managers.
Several themes, such as the transparency levels of business ownership & control, reducing the regulatory burden on companies and the debt restructuring framework will also be discussed.
Programme Outline
Improving the transparency of ownership and control of companies in line with certain international norms
- Requirement for locally incorporated companies and foreign companies registered in Singapore to maintain a register of controllers.
- Foreign companies registered in Singapore are required to maintain public registers of their members.
- Singapore incorporated companies are required to maintain a register of nominee directors.
- Requirement for records of wound up companies to be retained for five years instead of two years.
Reducing the regulatory burden and improving the ease of doing business in Singapore
- Removal of legal requirement for companies to use common seals.
- Alignment of timelines for holding annual general meetings (AGMs) and filing annual returns (ARs).
- Exemption from holding AGMs subject to specified safeguards.
- Inward re-domiciliation regime in Singapore.
Enhancing the debt restructuring framework in Singapore
- Enhanced moratoriums against creditors.
The amendments provide for enhanced moratoriums against creditor action by the courts on an application by a company that has proposed or has intentions to propose a creditor scheme. This would include an automatic 30-day moratorium, with certain safeguards for creditors, that will begin from the date of the application to court
- New Judicial Management Amendments.
The lowering of the threshold for companies to be granted a judicial management order will allow judicial management to commence sooner. In addition, judicial management will now be available to foreign companies.
- New Provisions for Cross Border Insolvency.
The Act will now adopt the United Nations Commission on International Trade Law (UNCITRAL) Model Law on Cross-Border Insolvency which will facilitate the recognition of cross border insolvency processes in Singapore and will also align Singapore's insolvency regime with the Chapter 11 Bankruptcy laws of the United States.
Training Methodology
Seminar style with interactive discussions
Closing Date for Registration
1 week before programme or until full enrolment
Intended For
This Intermediate level programme is intended for Accounting, Audit and Finance professionals who are involved in decision making, governance, oversight, implementation and/or management in their organisations.
Schedule & Fees
Testimonial
Funding
1] NTUC Union Training Assistance Programme (UTAP)
UTAP (Union Training Assistance Programme) is an individual skills upgrading account for NTUC members.
To find out more on the UTAP funding and support validity period please click here.
Should you have queries on the funding scheme, you can email to UTAP@e2i.com.sg or call NTUC Membership Hotline at 6213-8008
Programme Facilitator(s)
To reduce the environmental impact and contribute to sustainability efforts, ISCA will contribute our part by eliminating the printing of course materials for selected courses with effect from 2023.
Tips: To make your paperless learning experience more enjoyable, you may bring along a digital device such as a Windows based laptops or tablets to read your online materials during the class. QR code will be provided in the class for you to download the materials in PDF.
Join us and be a Difference Maker! | |
|
|
Programme Objective
This seminar will provide an overview of the recent changes to the Singapore Companies Act and how these changes will affect decisions makers and stakeholders such as CEOs, CFOs, accountants, auditors and business managers.
Several themes, such as the transparency levels of business ownership & control, reducing the regulatory burden on companies and the debt restructuring framework will also be discussed.
Programme Outline
Improving the transparency of ownership and control of companies in line with certain international norms
- Requirement for locally incorporated companies and foreign companies registered in Singapore to maintain a register of controllers.
- Foreign companies registered in Singapore are required to maintain public registers of their members.
- Singapore incorporated companies are required to maintain a register of nominee directors.
- Requirement for records of wound up companies to be retained for five years instead of two years.
Reducing the regulatory burden and improving the ease of doing business in Singapore
- Removal of legal requirement for companies to use common seals.
- Alignment of timelines for holding annual general meetings (AGMs) and filing annual returns (ARs).
- Exemption from holding AGMs subject to specified safeguards.
- Inward re-domiciliation regime in Singapore.
Enhancing the debt restructuring framework in Singapore
- Enhanced moratoriums against creditors.
The amendments provide for enhanced moratoriums against creditor action by the courts on an application by a company that has proposed or has intentions to propose a creditor scheme. This would include an automatic 30-day moratorium, with certain safeguards for creditors, that will begin from the date of the application to court
- New Judicial Management Amendments.
The lowering of the threshold for companies to be granted a judicial management order will allow judicial management to commence sooner. In addition, judicial management will now be available to foreign companies.
- New Provisions for Cross Border Insolvency.
The Act will now adopt the United Nations Commission on International Trade Law (UNCITRAL) Model Law on Cross-Border Insolvency which will facilitate the recognition of cross border insolvency processes in Singapore and will also align Singapore's insolvency regime with the Chapter 11 Bankruptcy laws of the United States.
Training Methodology
Seminar style with interactive discussions
Closing Date for Registration
1 week before programme or until full enrolment
Intended For
This Intermediate level programme is intended for Accounting, Audit and Finance professionals who are involved in decision making, governance, oversight, implementation and/or management in their organisations.
Programme Facilitator(s)
