1. The State Court has fined Li Baozhu, the sole director of Corp Nergy Pte Ltd, for failing to exercise reasonable diligence in the discharge of her duties under the Companies Act. Earlier on 11 October 2023, ACRA had cancelled Li’s registration as a Registered Qualified Individual and Corp Nergy’s registration as a Registered Filing Agent on the same grounds.
2. Registered Qualified Individual and Registered Filing Agent provide corporate secretarial services for business entities, such as helping customers to incorporate companies, file annual returns and fulfil other filing obligations under the Companies Act. With the registrations cancelled, Li Baozhu would not be able to operate as a corporate service provider.
3. The list of Registered Filing Agents and Registered Qualified Individuals can be found on ACRA’s website.
4. Li Baozhu had incorporated three local companies by negligently declaring to ACRA that a certain local resident individual had consented to be a director of these three companies. Under the Companies Act, all Singapore-registered companies must have at least one local resident director.
5. Li Baozhu had relied on a third party to obtain the consent of the local resident individual, but the said individual concerned had not consented to the appointments as director. Li Baozhu did not sight the prescribed consent form from the individual concerned and she also did not take any steps to ascertain if the individual had indeed consented to be a director of the three companies prior to the incorporations.
6. ACRA takes a serious view on the misuse of identities for the appointment of directors. Corporate service providers who breach their obligations, whether negligently or otherwise, may face regulatory sanctions which include having their registrations cancelled. Directors of corporate service providers may also be prosecuted for failing to exercise reasonable diligence.
7. PL Biz Consulting Pte Ltd is an ACRA Registered Filing Agent and Registered Qualified Individual since 2016.
8. We always uphold and maintain ACRA’s stringent compliance standards when performing corporate services for our clients. This includes verifying the identity of individuals, obtaining written consent from individuals to become director of a company and ensuring on time filing of ACRA Annual Return.
9. Please come and talk to us if you need help to fulfil obligations under Singapore Companies Act. PL Biz Consulting Pte Ltd have the knowledge and experience to ensure that you discharge your ACRA filing obligations and comply with Singapore Companies Act.
