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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 repealed by the Accountants Act (Cap. 2, 2005 Ed.);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]