In addition with the existing requirement to maintain the Registers of Registrable Controllers (“RORC”) at registered office, Accounting and Corporate Regulatory Authority (“ACRA”) has an additional requirement for all companies, foreign companies and Limited Liability Partnerships (“LLP”), unless exempted, to lodge information on the register with ACRA via BizFile+ in July 2020. ACRA will provide Registered Filing Agents with a further notification when the transaction in Bizfile is available for lodgement.
The RORC information lodged with ACRA will be accessible to public agencies in Singapore such as law enforcement agencies. Members of the public will not be able to access the RORC information or purchase any extracts of these lodgements.
Failing to lodge RORC with ACRA when the law takes effect shall be liable upon conviction, to a fine not exceeding $5,000.