Schedule 14 · Companies to which Part 11A does not apply

FOURTEENTH SCHEDULESections 8(7), 386AA(1) and (1A) and 386AC(c) and Fifteenth ScheduleCompanies to which Part 11A does not apply

1. Subject to section 386AA(1A), Part 11A does not apply to any of the following companies:

a public company which shares are listed for quotation on an approved exchange in Singapore;

a company that is a Singapore financial institution;

a company that is wholly‑owned by the Government;

a company that is wholly‑owned by a statutory body established by or under a public Act for a public purpose;

a company that is a wholly‑owned subsidiary of a company mentioned in sub‑paragraph (a), (b), (c) or (d);

a company which shares are listed on a securities exchange in a country or territory outside Singapore and which is subject to —

regulatory disclosure requirements; and

requirements relating to adequate transparency in respect of its beneficial owners,imposed through stock exchange rules, law or other enforceable means.[Act 24 of 2025 wef 06/05/2026]2. For the purposes of paragraph 1, a Singapore financial institution is —

any financial institution that is licensed, approved, registered or regulated by the Monetary Authority of Singapore but does not include —

[Deleted by Act 2 of 2019]

a person (other than a person mentioned in sub‑paragraphs (b) and (c)) who is exempted from licensing, approval or regulation by the Monetary Authority of Singapore under any Act administered by the Monetary Authority of Singapore, including a private trust company exempted from licensing under section 15 of the Trust Companies Act 2005 read with regulation 4 of the Trust Companies (Exemption) Regulations;[Act 24 of 2025 wef 06/05/2026]

any person exempted under section 20(1)(g) of the Financial Advisers Act 2001 read with regulation 27(1)(d) of the Financial Advisers Regulations; or

any person exempted under section 99(1)(h) of the Securities and Futures Act 2001 read with paragraph 7(1)(b) of the Second Schedule to the Securities and Futures (Licensing and Conduct of Business) Regulations.[15/2017; 2/2019][Act 24 of 2025 wef 06/05/2026]