A Singapore company setup as a public company limited by guarantee must include the suffix “Limited” in its name. … It can sue, or to be sued, in its own name; it can enter into contracts, and can own property all in its own name.
Can societies own property?
Furthermore, the word property can refer to movable and immovable property, as well as a tenancy, lease or freehold interest. Some people say that a society can actually hold property in its own name and so it is as good as a corporate body. … It cannot be equated to a body corporate.
Can a society own a company in Singapore?
1. This Registrar’s Interpretation serves to clarify that societies registered under the Societies Act may hold a company’s shares in either the name of its trustee or a member of its governing body, but not in its own name.
Can a society be sued in its own name?
“(c) A society may sue or be sued in the name of such one of its members as shall be declared to the Registrar and registered by him as the public officers of the society for that purposes, and if no such person is registered, it shall be competent for any person having a claim or demand against the society to sue the …
What is a society Singapore?
A society is defined in the Societies Act as a club, company, partnership or association of 10 or more persons, whatever its nature or object, and not already registered under any other law. … For the categories of societies listed below, the majority of the Committee Members must be Singapore Citizens.
Who owns a registered society?
Registered societies are corporate bodies with their own legal personality. Their members’ liability for the society’s debts is limited to the amount they contributed on becoming a member.
Is a registered society a body corporate?
The registration of a society shall render it a body corporate by the name under which it is registered, with perpetual succession and a common seal, and with power to hold property, to enter into contracts, to institute and defend suits and other legal proceedings and to do all things necessary for the purposes of its …
How is society set up in Singapore?
Required Information for Setting Up a Society
- names of 10 members;
- title of office (e.g. President, Secretary, Treasurer, Ordinary Member, etc);
- residential address;
- contact information (e.g. email, mobile no.,etc);
- nationality, resident status in Singapore, NRIC/FIN No., date of birth; and.
Is a society a legal entity?
As every society is a legal entity separate from its members it is capable of filing suits against any person or any member. Similarly, the suits can also be brought against the society.
Can a society make profit?
(d) Unlimited society can distribute profits with permission of State Government. A society which has as its object the promotion of economic interests of its members in accordance with cooperative principles can be registered as a Society.
Can a society transfer its property to another society?
A member wanting to transfer his shares and interest in the capital or property of a society should give 15 days notice of his intentions to do so to the secretary of the society on the prescribed form, along with the consent of the proposed transferee, also on the prescribed form.
How do you dissolve a society?
Any number not less than three-fifths of the members of any society may determine that it shall be dissolved, and thereupon it shall be dissolved forthwith, or at the time then agreed upon, and all necessary steps shall be taken for the disposal and settlement of the property of the society, its claims and liabilities …
What is difference between association and society?
According to Merriam-Webster’s dictionary, an association is “an organisation of persons having a common interest,” whereas a society is “an organised group working together or periodically meeting because of common interests, beliefs or profession.”
How do I know if my society is registered?
You can check Society Registration status on the official website of Municipal of Corporate Affairs.
The Memorandum must contain the clauses given below:
- Name Clause.
- Objectives Clause.
- Registered Office Clause.
- Details such as names, occupations and addresses of the Executive Body/Governing Body.
What is society certificate?
certify a copy of the whole or any part of, the by-laws, or any other contract to which the society is party or the minutes of a meeting of the directors, a committee of directors or the members.