Difference between solvent and insolvent EPC?

A private company can have not more than 50 members. An exempt private company (EPC) can be a private company with less than 20 members, and does not have any corporations holding beneficial interest in its shares (whether directly or indirectly). An EPC can also be a private company owned by the Government that is declared in the Gazette to be an EPC.

• An EPC is insolvent if it is unable to meet its debts when they are due. Insolvent EPCs are required to file financial statements as mentioned above.
• Solvent EPCs only need to make an online declaration of their solvency, and filing financial statements are voluntary.