In forceUpdated to 9 Jun 2025

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Corporate Service Providers Act 2024 · Updated to 9 Jun 2025 · Part 4 · Regulatory Actions

18. Cancellation of registration of registered corporate service providers

(1)

The Registrar may cancel the registration of a registered corporate service provider (X) (not being a deemed registered corporate service provider) —

(a)

if X ceases to meet one of the criteria specified under section 9(1)(a);

(b)

if the Registrar is satisfied that X or (if X is not an individual) any key appointment holder of X is not a fit and proper person;

(c)

if X’s registration was obtained through fraud or misrepresentation;

(d)

if X does not carry on a business of providing any corporate service; or

(e)

if X applies to the Registrar for X’s registration to be cancelled.

(2)

The Registrar may cancel the registration of a deemed registered corporate service provider (Y) —

(a)

if Y ceases to be an accounting entity;

(b)

if the Registrar is satisfied that Y or (if Y is not an individual) any key appointment holder of Y is not a fit and proper person;

(c)

if Y does not carry on a business in Singapore of carrying out any designated activity in relation to the provision of any accounting service by Y; or

(d)

if Y applies to the Registrar for Y’s registration to be cancelled.

(3)

The Registrar may refuse to cancel a registration under subsection (1)(e) or (2)(d) until the requirements in subsection (4) are met, if the Registrar suspects —

(a)

in relation to X, that X has contravened or failed to comply with —

(i)

any of the conditions of the registration; or

(ii)

any requirement under this Act or the regulations, the contravention of or non‑compliance with which is not an offence under this Act; or

(b)

in relation to Y, that Y has contravened or failed to comply with any requirement under this Act or the regulations, the contravention of or non‑compliance with which is not an offence under this Act.

(4)

For the purposes of subsection (3), the requirements to be met are —

(a)

the Registrar has investigated the suspected contravention or non‑compliance; and

(b)

the Registrar has determined that —

(i)

there was no contravention or non‑compliance;

(ii)

there was a contravention or non‑compliance and has taken regulatory action under section 19 for it; or

(iii)

there was a contravention or non‑compliance and has decided not to take regulatory action under section 19 for it.

Terms defined in this Act

accounting entity
Defined · s 2
“accounting entity” means —(a)an accounting corporation;(b)an accounting firm;(c)an accounting limited liability partnership; or(d)a public accountant who is registered under section 8 of the Business Names Registration Act 2014 as the sole proprietor of a business in providing public accountancy services;
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accounting service
Defined · s 3
“accounting service” means any of the following services:(a)financial accounting service;(b)internal audit service;(c)management accounting service;(d)taxation service;
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corporate service
Defined · s 2
“corporate service” means any of the following services:(a)forming, on behalf of another person, a corporation or other legal person;(b)acting, or arranging for another person to act —(i)as a director or secretary of a corporation;(ii)as a partner of a partnership; or(iii)in a similar capacity in relation to other legal persons;(c)providing a registered office, business address, correspondence or administrative address or other related services for a corporation, partnership or other legal person;(d)acting, or arranging for another person to act, as a nominee shareholder on behalf of any corporation, other than a corporation whose securities are listed on an approved exchange within the meaning of section 2(1) of the Securities and Futures Act 2001;(e)carrying out any designated activity in relation to the provision of any accounting service;(f)carrying out an ACRA transaction with the ACRA Registrar using the electronic transaction system —(i)on behalf of another person; or(ii)for one or more companies as a secretary of each of those companies;
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deemed registered corporate service provider
Defined · s 2
“deemed registered corporate service provider” means an accounting entity that is treated under section 7(2) as registered under section 8 as a registered corporate service provider;
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designated activity
Defined · s 2
“designated activity” means the preparation to carry out or the carrying out of transactions for a customer concerning any of the following activities:(a)buying or selling of real estate;(b)management of client money, securities or other assets;(c)management of bank, savings or securities accounts;(d)organisation of contributions for the creation, operation or management of corporations;(e)creation, operation or management of legal persons or legal arrangements, or buying and selling of business entities;
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key appointment holder
Defined · s 2
“key appointment holder”, in relation to any person (X), means any of the following persons:(a)where X is a sole proprietorship — the sole proprietor;(b)where X is a partnership or limited partnership — a partner of the partnership or limited partnership;(c)where X is a company —(i)a member of the board of directors; or(ii)an individual for the time being holding the office of chairperson or chief executive officer of the company;(d)where X is a limited liability partnership — a partner or manager of the limited liability partnership;(e)any person, other than a person mentioned in paragraph (a), (b), (c) or (d), by whatever name called, who is principally responsible for the management and conduct of X’s business activities in providing corporate services;
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registered corporate service provider
Defined · s 2
“registered corporate service provider” means a corporate service provider who is registered under this Act, and includes —(a)a deemed registered corporate service provider; and(b)a person who is treated under section 42(3) as registered under section 8 as a registered corporate service provider;
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Registrar
Defined · s 2
“Registrar” means the Registrar of Corporate Service Providers appointed under section 5(2)(a), and includes any Deputy Registrar or Assistant Registrar;
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registration
Defined · s 2
“registration” means registration of a registered corporate service provider or registered qualified individual, as the case may be;
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regulations
Defined · s 2
“regulations” means any regulations made under section 35;
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