Accounting and Corporate Regulatory Authority Act

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3 Establishment and incorporation of Accounting and Corporate Regulatory Authority

5 Constitution of Authority

6 Functions of Authority

7 Powers of Authority

8 Directions by Minister

9 Appointment of committees and delegation of powers

10 Chief Executive, officers and employees, etc.

11 Protection from personal liability

13 Funds and property of Authority

14 Application of moneys

17 Power of investment

20 Issue of shares, etc.

22 Transfer to Authority of property, assets and liabilities

23 Transfer of employees

24 Service rights, etc., of transferred employees to be preserved

25 Existing contracts

26 Pending proceedings

27 Continuation and completion of disciplinary proceedings

28 Misconduct or neglect of duty by employee before transfer

28A Interpretation of this Part

28B Establishment of electronic transaction system

28C Requirement to use electronic transaction system and agents for use

28D Evidence of transaction on electronic transaction system

28E Electronic transaction system malfunction, errors and omissions

28F Registered filing agents

28G Registered qualified individuals

28H Appeal to Minister

28I Interest for non‑payment and recovery of financial penalty

28J Regulations for this Part

30 Symbol or representation of Authority

30A Use of name, etc., of Authority

30B False statements

31 Powers of enforcement

32 Offences committed by bodies corporate, etc.

33 Proceedings conducted by officers of Authority

34 Preservation of secrecy

35 Jurisdiction of District Court

36 Composition of offences

37 Amendment of Schedules

Please check the legislation timeline to ensure that you are viewing the correct legislation version. See also FAQ B3.

Versions

find current version as at

14 Jan 2020

Amended by
S 942/2024

Amended by
Act 21 of 2024

Amended by
Act 36 of 2022

Amended by
Act 40 of 2018

Amended by
Act 44 of 2018

Amended by
Act 5 of 2018

Amended by
Act 29 of 2014

Amended by
Act 18 of 2014

Amended by
Act 5 of 2013

Amended by
Act 15 of 2010

Amended by
Act 4 of 2010

Amended by
S 253/2009

Amended by
Act 11 of 2005

Amended by
Act 5 of 2005

Amended by
Act 45 of 2004

Accounting and Corporate Regulatory Authority Act

(CHAPTER 2A)

(Original Enactment: Act 3 of 2004)

REVISED EDITION 2005

(31st July 2005)

An Act to establish and incorporate the Accounting and Corporate Regulatory Authority, to provide for its functions and powers, and for matters connected therewith.

[1st April 2004]

PART I

PRELIMINARY

Short title

1. This Act may be cited as the Accounting and Corporate Regulatory Authority Act.

Interpretation

2.—(1) In this Act, unless the context otherwise requires —

“Authority” means the Accounting and Corporate Regulatory Authority established under section 3;

“Chairman” means the Chairman of the Authority appointed under section 5(1)(a) and includes any temporary Chairman of the Authority;

“Chief Executive” means the Chief Executive of the Authority, and includes any individual acting in that capacity;

“debenture” includes debenture stock;

“Deputy Chairman” means any person who is appointed under section 5(3)(a) to be the Deputy Chairman of the Authority;

“member” means a member of the Authority;

“Public Accountants Board” means the Public Accountants Board established under section 3 of the Accountants Act (Cap. 2, 2001 Ed.) repealed by the Accountants Act (Cap. 2, 2005 Ed.);

“Registry of Companies and Businesses” means the Government department known as the Registry of Companies and Businesses;

“securities”, in relation to a company, includes shares, debentures, bonds and other securities of the company, whether or not constituting a charge on the assets of the company;

“shares” includes stocks.

[Act 44 of 2018 wef 14/01/2020]

(2) A reference in this Act to a written law specified in the Second Schedule includes a part of a written law specified in that Schedule.

[Act 44 of 2018 wef 14/01/2020]

(3) To avoid doubt, a reference to “company” in the definition of “securities” in subsection (1), and in section 7(2)(b), includes a VCC as defined in the Variable Capital Companies Act 2018.

[Act 44 of 2018 wef 14/01/2020]

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