Singapore’s company regulator – Accounting and Corporate Regulatory Authority (ACRA), on April 7, 2020 announced that all eligible Singapore companies will be given a 60-day time extension to hold their annual general meetings (AGMs) and file their annual returns (ARs), in light of the latest government advisories and measures amid the COVED-19 situation.
This is being done as during these times, some companies may have difficulties holding their AGMs, or file their ARs, noted the regulator in a release.
In a bid to cut the red-tape, the release also noted, “There is no need for the companies to apply for the extension of time,” meaning that the extensions are granted automatically to eligible companies.
In summary, ACRA is giving extension to companies in holding of AGMs and filing of ARs depending upon when these were originally due.
AGMs due date was between April 16, 2020, to July 31, 2020: Companies get a 60-day extension. Companies already granted an extension to hold their AGMs within this period, will be given a further 60 days extension from the last date of extension. Similarly, filing of ARs for the period May 1, 2020 to August 31, 2020, will be extended for 60 days for all of these companies
AGMs due date was between April 1, to April 15, 2020: Companies should hold the AGM within 60 days of the due date if they want to avoid any penalties imposed by ACRA. Their AR filing due dates will also be extended for 60 days.
AGMs due date is beyond July 2020: ACRA will consider if there is a need to extend time at a later date.
|Key dates from ACRA on AGMs and ARs due date extension:|
|Original Due Date / Extended Due Date previously granted for AGM||New AGM due date||New AR due date|
|16 Apr 2020 to 30 Apr 2020||15 Jun 2020 to 29 Jun 2020||15 Jul 2020 to 30 Jul 2020|
|1 May 2020 to 31 May 2020||30 Jun 2020 to 30 Jul 2020||31 Jul 2020 to 29 Aug 2020|
|1 Jun 2020 to 30 Jun 2020||31 Jul 2020 to 29 Aug 2020||30 Aug 2020 to 29 Sep 2020|
|1 Jul 2020 to 31 Jul 2020||30 Aug 2020 to 29 Sep 2020||30 Sept 2020 to 30 Oct 2020|
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