APAC corporate secretarial newsletter 2024 vol.1

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 allsizes. 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.

Keywords: Mazars, Vietnam, Corporate Secretarial, APAC

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

Changes in the law regarding business combinations

Thailand

Recent Department of Business Development rulings on aspects of the Foreign Business Act
Foreign businesses providing loans to affiliates and subsidiaries

Vietnam