Companies Act (Amendment of Eighth Schedule) Notification 2013

Status:

Published in Subsidiary Legislation Supplement
on 20 Nov 2013

No. S 704

Companies Act

(CHAPTER 50)

Companies Act
(Amendment of Eighth Schedule)
Notification 2013

In exercise of the powers conferred by section 8(7) of the Companies Act, the Minister for Finance hereby makes the following Notification:

Citation and commencement

1. This Notification may be cited as the Companies Act (Amendment of Eighth Schedule) Notification 2013 and shall come into operation on 2nd December 2013.

Amendment of Eighth Schedule

2. The Eighth Schedule to the Companies Act is amended —

(a)

by deleting sub‑paragraph (n) of paragraph 1 and substituting the following sub‑paragraph:

“(n)

either —

(i)

where a company is dormant throughout the financial year, its principal activity or activities immediately before it turned dormant; or

(ii)

in any other case, particulars of its principal activity or activities at the following dates:

(A)	the date to which the accounts of the company are made up; and
(B)	the date of the annual return;”;

(b)

by deleting sub‑paragraphs (o), (p) and (r) of paragraph 1;

(c)

by deleting the full‑stop at the end of sub‑paragraph (s) of paragraph 1 and substituting a semi‑colon, and by inserting immediately thereafter the following sub‑paragraphs:

“(t)

a statement as to whether the company or, where the company is a holding company, the group of companies to which the company belongs, has more than 50 employees; and

(u)

where the company is listed on a securities exchange in Singapore —

(i)

either —

(A)

where the public accountant who prepared the report under section 207 for the company on behalf of its auditor for the financial year in question, has prepared such reports for the company (whether on behalf of the same auditor or a different auditor) for 2 or more consecutive financial years including the financial year in question, the calendar year which coincides with the first of those financial years or, if the first of those financial years straddles more than one calendar year, the first of those calendar years; or

(B)

where the public accountant who prepared the report under section 207 for the company on behalf of its auditor for the financial year in question, did not prepare such report for the company (whether on behalf of the same auditor or a different auditor) for the previous financial year, the calendar year which coincides with the financial year in question or, where the financial year in question straddles more than one calendar year, the first of those calendar years; and

(ii)

such amount of fees (together with an itemised break down of the fees that are attributable to the provision of audit and non‑audit services) paid to the auditors of the company and its subsidiaries for the financial period covered by the last balance‑sheet and the last profit and loss accounts lodged together with the annual return, as is required to be disclosed in the annual report of the company by the securities exchange.”; and

(d)

by inserting, immediately after paragraph 4, the following paragraph:

“5. In paragraph 1(t), “group of companies” has the same meaning as in section 209A.”.

Made this 19th day of November 2013.

LIM SOO HOON

Permanent Secretary
(Finance) (Performance),
Ministry of Finance,
Singapore.

[F14.13.11 V1; AG/LLRD/SL/50/2010/3 Vol. 1]

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