Companies (Summary Financial Statement) (Amendment) Regulations 2018

Status:

Published in Subsidiary Legislation Supplement
on 30 Aug 2018

No. S 512

Companies Act

(CHAPTER 50)

Companies
(Summary Financial Statement)
(Amendment) Regulations 2018

In exercise of the powers conferred by section 203A(9) of the Companies Act, the Minister for Finance makes the following Regulations:

Citation and commencement

1. These Regulations are the Companies (Summary Financial Statement) (Amendment) Regulations 2018 and come into operation on 31 August 2018.

Amendment of regulation 2

2. Regulation 2 of the Companies (Summary Financial Statement) Regulations (Rg 4) (called in these Regulations the principal Regulations) is amended by deleting the definition of “full financial statements and report” and substituting the following definition:

“ “full financial statements and report”, in relation to a company, means —

(a)	a copy of the financial statements or, in the case of a parent company, a copy of the consolidated financial statements and balance‑sheet;
(b)	every document required by law to be attached to the documents mentioned in paragraph (a); and
(c)	the auditor’s report on the documents mentioned in paragraphs (a) and (b), unless the company is exempt from audit requirements under section 205B(1) or 205C(1) of the Act;”.

Amendment of regulation 3

3. Regulation 3(1) of the principal Regulations is amended by deleting sub‑paragraph (d) and substituting the following sub‑paragraph:

“(d)

the summary financial statement includes the following statement in a prominent position:

“This summary financial statement does not contain sufficient information to allow for a full understanding of the financial position and performance of the company or of the group. For further information, the full annual financial statements and the auditors’ report, if any, on those financial statements should be consulted.”;

”.

Amendment of First Schedule

4. The First Schedule to the principal Regulations is amended —

(a)	by deleting the words “as audited and to be laid before the company at annual general meeting” in paragraphs A and B and substituting in each case the words “required to be sent to persons entitled to receive notice of general meetings of the company”; and
(b)	by deleting the word “Copy” in paragraph D and substituting the words “Unless the company concerned is exempt from audit requirements under section 205B(1) or 205C(1) of the Act, copy”.

[G.N. No. S 836/2015]

Made on 29 August 2018.

TAN CHING YEE

Permanent Secretary,
Ministry of Finance,
Singapore.

[F14.1.45; AG/LEGIS/SL/50/2015/1 Vol. 1]

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