On 4 April 2023, the Charity Council (“Council“) released the revised Code of Governance for Charities and Institutions of a Public Character (“IPCs“) (“revised Code“) with changes that will impose a higher standard of governance on charities in Singapore. The revisions were made with the aim of assuring Singapore donors that their donations are utilised in accordance with the objectives of charities. The revised Code will apply to the charities’ financial year starting from 1 January 2024, on a “comply or explain” basis. By way of background, the Council has issued a public consultation to seek feedback on the proposed simplified Code from 17 May 2022 to 16 June 2022. The revised Code has incorporated the feedback received pursuant to the public consultation, where appropriate.
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