Singapore legislation

Clause 452

of Insolvency, Restructuring and Dissolution Bill

Clause 452

Amendment of Accounting and Corporate Regulatory Authority Act

The Accounting and Corporate Regulatory Authority Act (Cap. 2A, 2005 Ed.) is amended —

(a)

by inserting, immediately after the definition of “FATF recommendation” in section 28A, the following definition:“ “Fifth Schedule Act” means any of the written laws specified in the first column of the Fifth Schedule;”;

(b)

by deleting the definition of “Registrar” in section 28A and substituting the following definition:“ “Registrar” means —

(a)

the Registrar appointed under a scheduled Act; or

(b)

the person specified in the second column of the Fifth Schedule, in respect of a Fifth Schedule Act specified in the first column of that Schedule;”;

(c)

by inserting, immediately after the words “scheduled Act” in paragraphs (a), (b), (c) and (d) of the definition of “transaction” in section 28A, the words “or Fifth Schedule Act”;

(d)

by inserting, immediately after the words “scheduled Act” wherever they appear in sections 28B(1)(b) and (d), (2)(c), (3)(b) and (5)(a), 28C(1)(a) and (b), 28E(1)(a) and 28G(14), the words “or Fifth Schedule Act”;

(e)

by inserting, immediately after the words “scheduled Acts” in section 28B(6)(a) and (b), the words “or Fifth Schedule Acts”;

(f)

by deleting the words “Second and Fourth” in section 37 and substituting the words “Second, Fourth and Fifth”;

(g)

by deleting the Schedule reference of the First Schedule and substituting the following Schedule reference:“Section 5(4)”;

(h)

by deleting the Schedule reference of the Second Schedule and substituting the following Schedule reference:“Sections 6(1), 13(2), 28A, 31(1), 33(1) and (2), 34(1) and (5) and 37”; and

(i)

by inserting, immediately after the Fourth Schedule, the following Schedule:“FIFTH SCHEDULESections 28A and 37Written laws under which transaction may be carried out using electronic transaction systemFirst columnSecond column1.Insolvency, Restructuring and Dissolution Act 2018Registrar of Companies mentioned in section 2(1) of the Insolvency, Restructuring and Dissolution Act 2018”.

Clause 452 — Insolvency, Restructuring and Dissolution Bill