The Singapore government has made significant changes to the rules governing companies, further enhancing the country’s reputation as a good place to do business. The Companies (Amendment) Act 2017 was passed in Parliament in March last year. Some of the changes took effect from March 2017. These include locally-incorporated companies and foreign companies registered in Singapore having to maintain a register of registrable controllers. In addition, Singapore incorporated companies must now keep a register of nominee directors. There’s also no longer a requirement for companies to use a common seal.
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The message is clear: organisations must be held accountable for their social and environmental footprint. Therefore, it’s inevitable that speaking up becomes the next social…
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