APAC corporate secretarial newsletter 2024 vol.1

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As businesses expand their operations into new countries, it brings a wealth of opportunities but also creates compliance risks. With its economies driving global growth, Asia Pacific (APAC) is an inviting region for multinational corporations seeking expansion. Each jurisdiction in the region has its own rules and regulations so getting compliance right is a challenge faced by businesses of all sizes. To minimize these challenges, our APAC corporate secretarial newsletter provides information on how to ensure compliance on an international scale and helps businesses gain comprehensive insights into the business landscape across APAC.

12 January 2024

Key highlights:

Australia
- Corporations Act 2001 Compliance Check: Is Your Company Compliant?
- Mandatory climate disclosure
China
- Security of personal information outbound transfers
Hong Kong
- Implementation of Unique Business Identifier for entities under the administration of the Registrar of Companies of Hong Kong
- Reduction of stamp duty on stock transactions
India
- Companies (Incorporation) 2nd Amendment Rules, 2023
- Clarification on holding of Annual General Meeting (AGM) and EGM through video Conference (VC) or other Audio visual means (OAVM) and passing of Ordinary and Special resolutions by the companies under the Companies Act, 2013 read with Rules made thereunder - Extension of timeline
- National Single Window System for Incorporation of Companies in India
- Companies (Prospectus and Allotment of Securities) 2nd Amendment Rules, 2023
- Companies (Management and Administration) 2nd Amendment Rules, 2023
Indonesia
- Enactment of Presidential Regulation No. 57 of 2023 concerning Mandatory Report of Job Vacancies
- Current development and practical issues in interacting with the Indonesia Investment Coordinating Board (BKPM) and its Online Single Submission (OSS) system
- Government Regulation No. 12 of 2023 regarding the Issuance of Business Permits, Business Facilitation, and Investment Facilities for Business Actors in Ibu Kota Nusantara (IKN)
- Decree of the Minister of Energy and Mineral Resources No. 258.k/MB.01/MEM.B/2023 on Guidelines for the Granting of Mining Business License Areas and Special Mining Business License Areas for Metal Minerals and Coal
- Circular of the Director – General of Sea Transportation No. SE-DJPL 25/2023 on Supervision of the Implementation of Shipping Registrations and Business Licensing Activities for Sea Transportation Business
- Regulation of the Minister of Law and Human Rights Number 22 of 2023 on Visas and Stay Permits
Japan
- No recent regulatory updates in Japan to report in this edition
Korea
- The Enforcement Decree of the Korean Foreign Exchange Transaction Act and Foreign Exchange
- Transaction Regulations were partially amended in 2023
Malaysia
- SSM - Annual Dialogue 2023
- LHDNM – Practice Note No. 3/2023
- SSM-Display Registered Company/Business Name and Number on Website
Philippines
- Internet Transactions Act of 202
- SEC eSPARC online business registration
Singapore
- Updates on Corporate Service Providers Bill (the “CSP Bill”)
Taiwan
- No recent regulatory updates in Taiwan to report in this edition
Thailand
- Recent Department of Business Development rulings on aspects of the Foreign Business Act
- Foreign businesses providing loans to affiliates and subsidiaries
Vietnam
- No recent regulatory updates in Vietnam to report in this edition