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In December 1999, the
Ministry of Finance, together with the Monetary
Authority of Singapore and the Attorney-General's
Chambers, set up three private sector-led committees
to review corporate governance practices, disclosure
and accounting standards, and corporate regulatory
framework in Singapore.
Click here to:
The Government has accepted all 77 recommendations
of the Company Legislation and Regulatory Framework
Committee ("CLRFC"). MOF will be implementing
the recommendations in phases. The amendments to
effect the first batch of the CLRFC recommendations
were completed in May 2003. The draft Companies
(Amendment No. 2) Bill 2003, which is to implement
the second batch of CLRFC recommendations, will
be posted on the Internet for public consultation
until 15 September 2003. Please click here to access
the draft
Companies (Amendment No. 2) Bill 2003.
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