WWLegal.com :: The Companies (Amendment) Act 2005 will come into force with effect from Monday 30 Jan 2006

The Companies (Amendment) Act 2005 will come into force with effect from Monday 30 Jan 2006
Posted on Wednesday, January 11, 2006 - 12:00 AM

1. The Companies (Amendment) Act 2005 will come into force with effect from Monday 30 Jan 2006. The amendments include the removal of the concept of par value and authorized capital, reform in the capital maintenance regime, introduction of treasury shares and liberalization of the amalgamation process.

2. New e-forms will be introduced and amendments will be made to the following current e-forms:

Apply for a new company name
Incorporate a Private Company
Incorporate a Public Company – Limited by Shares
Summary Of Returns By Local Company Having A Share Capital
Main Return By Local Company Having A Share Capital
Notice By Local Company Of Alteration In Share Capital Other Than Increase In Capital
Return Of Allotment Of Shares
Notice Of Redemption Of Redeemable Preference Shares
Notice By Local Company Of Transfer Of Shares / List Of Shareholders
Notice Of Purchase Or Acquisition Of Ordinary Shares / Stocks
Notice Of Purchase Or Acquisition Of Non-Redeemable Preference Shares
Conversion of Company Type

3. To enable the new and amended e-forms to be uploaded onto the internet, Bizfile will not be available on the following dates and time:

Date and Time	BizFile Unavailability
27 Jan 2006 (Friday) from 2000 hrs (8 p.m.)to 28 Jan 2006 (Saturday) 0800 hrs (8.00 a.m.)	All services in Bizfile not available.
28 Jan 2006 (Saturday) 0800 hrs (8.00 a.m.)to29 Jan 2006 (Sunday) 2359 hrs (11.59 pm)	Bizfile services restored but the above affected transaction forms will be removed from the Local Company Transactions menu.
30 Jan 2006 (Sunday) 0001hrs (0.01 am)	New and amended forms are added to the Bizfile menu and available for use.

4. Companies and their agents are strongly advised to lodge the relevant forms affected by the amendments before 27 Jan 2006, particularly those affecting allotment of shares and changes in share capital, to avoid complications in their filings on or after 30 Jan 2006. ACRA will issue a more detailed Practice Direction closer to 30 Jan 2006.

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