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Amendments to Companies Act and Limited Liability Partnerships Act
This alert provides a summary of certain key legislative changes that will affect individuals, companies and limited liability partnerships.
On 2 July 2024, Parliament passed the Accounting and Corporate Regulatory Authority (ACRA) Registry and Regulatory Enhancements Bill, the Corporate Service Providers (CSP) Bill, and the Companies and Limited Liability Partnerships (CLLPMA) (Miscellaneous Amendments) Bill.
The bills introduce legislative changes intended to enhance the regulatory regime and corporate transparency for companies and limited liability partnerships and have implications for corporate service providers.
The implementation timeline has not yet been announced. The ACRA will ensure there is adequate lead time for the implementation of the proposed amendments and the transition process.
In this edition of our corporate secretarial update, we have set out a summary of certain key legislative changes that will affect individuals, companies and limited liability partnerships.