§ 7 — No carrying on business of providing corporate services without registration

7.—(1) A person must not carry on a business in Singapore of providing any corporate service unless the person is a registered corporate service provider for that type of corporate service.(2) An accounting entity that carries on a business in Singapore of the corporate service of carrying out any designated activity in relation to the provision of any accounting service by the accounting entity, is treated as registered under section 8 as a registered corporate service provider for that type of corporate service for the purposes of this Act, and continues to be so treated until the accounting entity’s deemed registration is suspended or cancelled under section 18(2) or 19(2) or (3).

(3) Despite anything in the Accountants Act 2004, an accounting entity is not authorised to carry out any designated activity in relation to the provision of any accounting service by the accounting entity if its deemed registration as a registered corporate service provider is suspended or cancelled under section 18(2) or 19(2) or (3).

(4) A person who contravenes subsection (1) shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $50,000 or to imprisonment for a term not exceeding 2 years or to both and, in the case of a continuing offence, to a further fine not exceeding $2,500 for every day or part of a day during which the offence continues after conviction.

—(1) A person must not carry on a business in Singapore of providing any corporate service unless the person is a registered corporate service provider for that type of corporate service.

(2) An accounting entity that carries on a business in Singapore of the corporate service of carrying out any designated activity in relation to the provision of any accounting service by the accounting entity, is treated as registered under section 8 as a registered corporate service provider for that type of corporate service for the purposes of this Act, and continues to be so treated until the accounting entity’s deemed registration is suspended or cancelled under section 18(2) or 19(2) or (3).

(3) Despite anything in the Accountants Act 2004, an accounting entity is not authorised to carry out any designated activity in relation to the provision of any accounting service by the accounting entity if its deemed registration as a registered corporate service provider is suspended or cancelled under section 18(2) or 19(2) or (3).

(4) A person who contravenes subsection (1) shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $50,000 or to imprisonment for a term not exceeding 2 years or to both and, in the case of a continuing offence, to a further fine not exceeding $2,500 for every day or part of a day during which the offence continues after conviction.