Companies (Specified Companies — Exemption from Part 11A) Order 2023

No. S 384

Companies Act 1967

Companies (Specified Companies —
Exemption from Part 11A) Order 2023

In exercise of the powers conferred by section 386AP of the Companies Act 1967, the Minister for Finance makes the following Order:

Citation and commencement

1.  This Order is the Companies (Specified Companies — Exemption from Part 11A) Order 2023 and comes into operation on 28 June 2023.

“Specified company”

2.  In this Order, “specified company” refers to any of the following:

(a) Asia‑Europe Foundation (UEN 199700781D);

(b) Singapore Deposit Insurance Corporation Limited (UEN 200600593Z).

Exemption of specified company’s obligations

3.  A specified company is exempt from all of the following provisions of the Act:

(a) section 386AF(1), (2), (3), (7), (8), (9) and (11);

(b) section 386AFA(3), (4), (5) and (6);

(c) section 386AG(1) and (2);

(d) section 386AH(1);

(e) section 386AKA(1), (3), (4) and (5);

(f) section 386AN(3);

[S 349/2025 wef 16/06/2025]

(g) section 386ANA(2) and (3).

[S 349/2025 wef 16/06/2025]

Exemption of registrable controller’s obligations

4.  A person who is a registrable controller of a specified company is exempt from all of the following provisions of the Act:

(a) section 386AF(10);

(b) section 386AJ;

(c) section 386AK.

Exemption of director’s obligations

5.  A director of a specified company is exempt from section 386AL(2) and (3) of the Act.

Made on 17 June 2023.

LAI WEI LIN

Second Permanent Secretary,
Ministry of Finance,
Singapore.

[F14.1.45; AG/LEGIS/SL/50/2020/10 Vol. 1]