ACRA Steps Up Enforcement Action


In 2018 and 2019, ACRA prosecuted 13 directors for multiple breaches of failing to hold AGM and file AR and sought deterrent sentences. We would like to highlight the prosecution of a company director, Mr Tan Hang Song who was both a director of a RFA and a Registered Qualified Individual (RQI).  Mr Tan’s defence at trial was that he was unable to contact his clients and obtain instructions to hold AGM and file AR. The State Courts found him guilty of knowingly and wilfully committing the offences and meted out a record fine of $113,400 for 54 charges in Feb 2019. 

12 directors who pleaded guilty to similar offences were fined between $8,400 and $57,000.  Of the 12 directors, 8 were directors or employees of RFAs or were RQIs. Various aggravating factors were considered including several breaches across multiple companies. E.g. one of them had already had 5 convictions and 90 similar offences compounded in the past; and yet another faced 116 charges. All 13 directors have been disqualified. 

ACRA also prosecuted 4 company directors for lodging false information with ACRA. They were fined between $7,500 and $10,000 and disqualified.

Leave a comment


Please note, comments must be approved before they are published


Related Posts

Update Changes in Personal Particulars with ACRA
Update Changes in Personal Particulars with ACRA
In our blog post on “Update Changes in Company Officers and their Particulars”, we shared that certain personal parti...
Read More
Alternatives to Sealing
Alternatives to Sealing
As mentioned in our earlier blog post, it is no longer a mandatory requirement for companies incorporated in Singapor...
Read More
Common Seal – To have or not to have?
Common Seal – To have or not to have?
As you may already be aware, with effect from 31 March 2017, it is no longer a mandatory requirement for companies in...
Read More