Winding Up a Society (Non Profit Organization)
Voluntary Dissolution Procedure for Winding Up a Society
The society is required to comply strictly with the rules in its constitution in effecting its own dissolution. The assets would be disposed according to the rules of the society applicable.
If no rules are specified in the objects of the society regarding dissolution, then at least three-fifths of the members residing in Singapore must vote for dissolution delivered in person or by proxy at a general meeting convened for that purpose. If a registered society dissolves itself according to its rules, then it shall inform the Registrar of Societies in writing.
Thereafter, society needs to submit its send a certificate of dissolution to the Registrar within one week of dissolution. The certificate should be signed by the president, the secretary and the treasury or officers of the society holding analogous positions.
A set of supporting information/documents is also required, as listed as follows:
Date of General Meeting at which resolution to dissolve the society was passed
Total number of members and number of eligible voting members of the society as at date of General Meeting
Number of members present at General Meeting
Number of members who voted in favour and number who voted against dissolution
Amount of remaining funds and method of disposal
Effective date of dissolution
The minutes of the general meeting at which the resolution to dissolve the society is passed, duly signed by the President/Secretary. The minutes of meeting must state the reason for dissolution and reflect the details of dissolution as outlined above.
The agenda, proxy slips and attendance sheet.
Particulars of all the office-bearers
Final Audited Income & Expenditure and Balance Sheet of the society and past audited accounts if these have not been submitted before.
Documentary evidence to show that the remaining funds of the society had been disposed off in accordance with its rules pertaining to dissolution (e.g. receipts).
Bank statement to show that the society's account has been closed and no balance is left.
Documentary evidence to show that the society has cleared its tax matters with the Controller of Income Tax.
If the society is registered IPC/Charity, it is required to provide a letter of no objection from the Commissioner of Charities when submitting its voluntary dissolution to the Registry of Societies.
The Registrar will then publish the dissolution of the society in the Gazette.
If you would like to know more, please contact Bestar.