Companies Act 1967 · 2020 Revised Edition · Part 6 · Financial Statements and Audit
202A. Voluntary revision of defective financial statements, or consolidated financial statements or balance sheet
Last amended by an amending law of 2025. 2 amendments in all.
Official textFrom Singapore Statutes Online, unchanged
Subject to subsection (3), this section applies at any time —
in the case where a company need not hold an annual general meeting for a financial year under section 175A — after the financial statements or, in the case of a parent company, consolidated financial statements and balance sheet are sent to the members of the company under section 203; or
in any other case — after the financial statements or, in the case of a parent company, consolidated financial statements and balance sheet are laid before the company at an annual general meeting.
Where this section applies, if it appears to the directors of the company that the financial statements or, in the case of a parent company, consolidated financial statements or balance sheet do not comply with the requirements of this Act (including compliance with the Accounting Standards), the directors may cause the financial statements, or consolidated financial statements or balance sheet (as the case may be), to be revised and make necessary consequential revisions to the summary financial statement or directors’ statement.
company
“company” means a company incorporated under this Act or under any corresponding previous written law;
The revision of the financial statements, or consolidated financial statements or balance sheet (as the case may be), under subsection (2) must be confined to —
financial statements
“financial statements” means the financial statements of a company required to be prepared by the Accounting Standards;
those aspects in which the financial statements, or consolidated financial statements or balance sheet (as the case may be), did not comply with this Act (including compliance with the Accounting Standards); and
the making of any necessary consequential revisions.
Where the Registrar has given the directors of the company a notice under section 202B(1), the directors may not cause the financial statements, or consolidated financial statements or balance sheet (as the case may be), to be revised unless the Registrar agrees with the directors on the manner in which to revise the financial statements, or consolidated financial statements or balance sheet (as the case may be), referred to in section 202B(2)(b).
Registrar
“Registrar” means the Registrar of Companies appointed under this Act and includes any Deputy or Assistant Registrar of Companies;
The Minister may make regulations under section 411 in respect of the revision of financial statements, consolidated financial statements, balance sheet, directors’ statement or summary financial statement, including but not limited to the following:
the manner of revision of financial statements, consolidated financial statements, balance sheet, directors’ statement or summary financial statement;
the application of any provision of this Act to such financial statements, consolidated financial statements, balance sheet, directors’ statement or summary financial statement subject to such additions, exceptions and modifications as may be specified in the regulations;
the taking of steps by the directors to bring any revision of the financial statements, consolidated financial statements, balance sheet, directors’ statement or summary financial statement to the notice of persons likely to rely on the previous financial statements, consolidated financial statements, balance sheet, directors’ statement or summary financial statement;
the requirement to lodge the revised financial statements, consolidated financial statements, balance sheet, directors’ statement or summary financial statement with the Registrar and the payment of any filing fee pursuant to such lodgment.
Terms defined in this Act
Accounting Standards
Defined · s 4“Accounting Standards” means the accounting standards made or formulated by the Accounting Standards Committee under Part 3 of the Accounting Standards Act 2007 and applicable to companies and to foreign companies in respect of their operations in Singapore for the purposes of this Act;
annual general meeting
Defined · s 4“annual general meeting”, in relation to a company, means a meeting of the company required to be held by section 175;
balance sheet
Defined · s 209A“balance sheet”, in relation to a company, means the balance sheet, by whatever name called, prepared in accordance with the Accounting Standards;
company
Defined · s 4“company” means a company incorporated under this Act or under any corresponding previous written law;
consolidated financial statements
Defined · s 209A“consolidated financial statements” has the meaning given by the Accounting Standards;
financial statements
Defined · s 209A“financial statements” means the financial statements of a company required to be prepared by the Accounting Standards;
financial year
Defined · s 4“financial year” —(a)in relation to a corporation — means the period in respect of which the financial statements of the corporation is made up, whether that period is a year or not; and(b)in relation to a company — is also to be determined in accordance with section 198;
parent company
Defined · s 209A“parent company” means a company that is required under the Accounting Standards to prepare financial statements in relation to a group;
Registrar
Defined · s 4“Registrar” means the Registrar of Companies appointed under this Act and includes any Deputy or Assistant Registrar of Companies;
summary financial statement
Defined · s 4“summary financial statement” means a summary financial statement referred to in section 203A;
Part 7
Arrangements, Reconstructions and Amalgamations
Part 8
Part 8A
Part 9
Investigations
Part 10
Dissolution
Part 10A
Transfer of Registration
Part 11
Various Types of Companies, Etc.
Part 11A
Register of Controllers, Nominee Directors and Nominee Shareholders of Companies
Part 12