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Maintaining Company Registers: Electronic Register of Chief Executive Officers (CEOs)

14 June 2024

Editor: ET

In Singapore, maintaining accurate and up-to-date company registers is a legal requirement under the Companies Act. One essential aspect of this is the electronic register of Chief Executive Officers (CEOs).

Ensuring timely updates to this register is crucial for regulatory compliance and transparency.

Updating CEO Information with ACRA

All companies in Singapore must notify the Accounting and Corporate Regulatory Authority (ACRA) of any changes regarding their CEOs. This includes both the appointment and cessation of CEOs, as well as updates to their personal particulars. This process is facilitated through BizFile+, ACRA’s online filing and information retrieval system.

Required Transactions for CEO Changes

When there is a change in your company's CEO or updates to their personal information, you need to complete the following transactions on BizFile+:

  1. Change in Company Information including Appointment/Cessation of Company Officers/Auditors: This transaction is used for the appointment of a new CEO or the cessation of an existing one.

  2. Change in Personal Particulars of Company Officers: Use this transaction to update any changes in the CEO’s personal particulars, such as changes in name, contact information, or other relevant details.

Simplified Process for Singapore Citizens and PRs

For Singapore citizens and Permanent Residents (PRs), there is no need to update ACRA separately on changes to residential address, name, nationality, identification type, or number. These changes should be notified to the Immigration & Checkpoints Authority, which will then be reflected in ACRA's records automatically.

Insight from

Expede emphasizes the importance of maintaining accurate records for corporate governance and compliance. Regular updates to the electronic register of CEOs not only fulfill legal requirements but also enhance the company’s credibility and transparency. Expede advises businesses to have a systematic approach to updating these records to avoid any lapses that could result in penalties or non-compliance issues.

Moreover, having a detailed and up-to-date electronic register ensures that all stakeholders, including investors and regulatory bodies, have access to the most current information. This is particularly crucial in Singapore’s highly regulated business environment, where transparency and accuracy are paramount.

Maintaining the electronic register of CEOs through BizFile+ is a critical task for all companies in Singapore. By keeping this register updated, businesses can ensure compliance with the Companies Act, enhance transparency, and avoid potential legal issues.

For businesses seeking expert advice on maintaining their company registers, consulting with professionals like those at Expede can provide valuable guidance and support.

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