1. HOW TO AVOID FACING ENFORCEMENT ACTION BY ACRA
CASE STUDY
HOW TO AVOID FACING ENFORCEMENT ACTION BY ACRA
-List of Statutory need to comply
-List of Option if NOT able to comply
-What is Composition Fine, Prosecution Action, Debarment Regime

2. IS YOUR OBLIGATION TO COMPLY WITH THE FOLLOWING :
SECTION NEED TO COMPLY
201
Up to date financial statement must be presenting at the AGM
175
AGM must be held in within 15 months from the last AGM date OR 18 months from the date of Incorporation
197
Company must lodge annual return with ACRA within 30 days from the date of Annual General Meeting

3. LIST OF OPTION IF NOT ABLE TO COMPLY A) APPLY STRIKE OFF WITH ACRA Criteria need to comply with : *Obtain Consent from all shareholder *Company had ceased operation ⃰ NO outstanding amount ⃰⃰ NO liabilities *NO involvement in any legal proceeding inside or outside Singapore

4. LIST OF OPTION IF NOT ABLE TO COMPLY
B) ATTEND DIRECTORS COMPLIANCE PROGRAMME (DCP)
A copy of letter will address to director
*Offered to 1st time offenders ONLY
* Extension of time will be granted after attended the Program

5. NO ACTION TAKEN. THEN PREPARE FOR THE FOLLOWING. COMPOSITION FINE
NO ACTION TAKEN ? THEN PREPARE FOR THE FOLLOWING *COMPOSITION FINE *PROSECUTION *DEBARMENT

6. + NO ACTION TAKEN PAY COMPOSITION Statutory Act was not complied
Before Court summons issued
After Court Summons issued
After warrant of Arrest issued for failing to attend court
Amount Payable
S175
S$300
S$600
S$900
Up to S$900 per breach
S197

7. PAY LATE FILING Statutory Act was not complied Nature of Amount
Amount Payable
S175
Composition sum
S$300 per breach
S197
Late filing penalty
S$300 per late filing
S201
S$300 per beach

8. NO ACTION TAKEN PROSECUTION ACTION TAKEN
Court Summon will be issue with the following FINES
Statutory Act was breached
Court Fines Payable
S175, Not holding AGM
Up to S$5,000
S197 Not filing AR

9. NO ACTION TAKEN Company director will be DEBAR from taking on NEW appointment as company officer of other companies
DEBARMENT OF DIRECTOR