Singapore legislation
Section 145A
Section 145A
Acting as nominee director
(1)
Subject to subsection (2), a person must not, on or after the appointed day, act as a nominee director of a company by way of business, unless —
the person is a registered corporate service provider for providing the corporate service of acting, or arranging for another person to act as a director of a corporation; or
his or her so acting is arranged by a registered corporate service provider for that corporate service.
(2)
Subsection (1) does not apply where —
the person acts as a nominee director of his or her affiliated company; or
the person had commenced acting as a nominee director of the company before the appointed day.
(3)
Any person who contravenes subsection (1) shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $10,000 and, in the case of a continuing offence, to a further fine not exceeding $1,000 for every day or part of a day during which the offence continues after conviction.
(4)
In this section —
Definition
“affiliated company”, in relation to a person, means —
a company that employs the person; or
a company which by virtue of section 6 is deemed to be related to a corporation that employs the person;
Definition
“appointed day” means the date of commencement of section 38(b) of the Corporate Service Providers Act 2024;
Definition
“nominee director” means a director who is accustomed or under an obligation whether formal or informal to act in accordance with the directions, instructions or wishes of any other person.