Summary of Responses to Consultation Feedback on the Draft Corporate and Accounting Laws (Amendment) Bill

Detailed description

1. The Ministry of Finance (MOF) and the Accounting and Corporate Regulatory Authority (ACRA) invited the public to provide feedback on the proposed legislative amendments under the Corporate and Accounting Laws (Amendment) Bill from 14 July 2025 to 31 July 2025.

2. The key proposed legislative amendments aim to:

   1. Prevent misuse of companies for unlawful purposes;

   2. Reduce regulatory burden for companies;

   3. Safeguard shareholders’ interests; and

   4. Enhance the regulatory regime for public accountants.

3. Consequential and related amendments will also be made to other written laws to give effect to or align with the key proposed legislative amendments. 

4. The respondents were generally supportive of the proposed legislative amendments. The feedback, as well as responses from MOF and ACRA are in the Annex [PDF, 172 KB] (PDF, 169KB). For feedback received on areas not under the scope of the Bill, these may be considered by MOF and ACRA in future reviews.

5. The Bill will be presented in Parliament in October 2025.

6. MOF and ACRA would like to thank all respondents for their feedback in this public consultation¹.

¹ For more details and the public consultation documents, please refer to Public Consultation on Corporate and Accounting Laws (Amendment) Bill.

Annex

MOF’s and ACRA’s responses to Key Feedback on the Draft Corporate and Accounting Laws (Amendment) Bill [PDF, 172 KB]