Singapore legislation
Section 386AH
Section 386AH
Duty of company and foreign company to keep information up‑to‑date
(1)
If a company or foreign company knows or has reasonable grounds to believe that a relevant change has occurred in the particulars of a registrable controller that are stated in the company’s or foreign company’s register of controllers, the company or foreign company must give notice to the registrable controller —
to confirm whether or not the change has occurred; and
if the change has occurred —
to state the date of the change; and
to provide the particulars of the change.
(2)
A company or foreign company must give the notice mentioned in subsection (1) within such period as may be prescribed after it first knows of the change or first has reasonable grounds to believe that the change has occurred.
(3)
Section 386AG(3)(a) and (b) applies to a notice under this section as it applies to a notice under section 386AG.
(4)
Subsection (1) does not require a company or foreign company to give notice to any person in respect of any information that was previously provided by that person or by any registered corporate service provider on behalf of that person.
(5)
If a company or foreign company fails to comply with subsection (1) or (2), or section 386AG(3)(a) and (b) as applied by subsection (3), the company or foreign company, and every officer of the company or foreign company who is in default, shall each be guilty of an offence and shall each be liable on conviction to a fine not exceeding $25,000.
(6)
An addressee of a notice under subsection (1) who fails to comply with the notice within the time specified in the notice for compliance shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $25,000.
(7)
For the purposes of this section, a relevant change occurs if —
a person ceases to be a registrable controller in relation to the company or foreign company, as the case may be; or
any other change occurs as a result of which the particulars of the registrable controller in the company’s or foreign company’s register of controllers are incorrect or incomplete.