Singapore legislation

Clause 255

of Insolvency, Restructuring and Dissolution Bill

Clause 255

Electronic transaction system

(1)

The Registrar of Companies may —

(a)

require or permit any person to carry out any transaction with the Registrar of Companies under Parts 4 to 11; and

(b)

issue any approval, certificate, notice, determination or other document pursuant or connected to a transaction mentioned in paragraph (a),using the electronic transaction system established under Part VIA of the Accounting and Corporate Regulatory Authority Act.

(2)

If the Registrar of Companies is satisfied that a transaction should be treated as having been carried out at some earlier date and time, than the date and time which is reflected in the electronic transaction system, the Registrar of Companies may cause the electronic transaction system and the registers kept by the Registrar of Companies to reflect such earlier date and time.

(3)

The Registrar of Companies must keep a record whenever the electronic transaction system or the registers are altered under subsection (2).

(4)

In this section —

Definition

“document” includes any application, form, report, certification, notice, confirmation, declaration, return or other document (whether in electronic form or otherwise) filed or lodged with, or submitted to the Registrar of Companies;

Definition

“transaction”, in relation to the Registrar of Companies, means —

(a)

the filing or lodging of any document with the Registrar of Companies, or the submission, production, delivery, furnishing or sending of any document to the Registrar of Companies;

(b)

any making of any application, submission or request to the Registrar of Companies;

(c)

any provision of any undertaking or declaration to the Registrar of Companies; and

(d)

any extraction, retrieval or accessing of any document, record or information maintained by the Registrar of Companies.

Read in full context — Insolvency, Restructuring and Dissolution Bill →