Corporate Service Providers Act 2024 · s 16

Suggest a correction

Tell us what is wrong in this text. We check every suggestion against the official version before we change anything.

What is wrong?Wrong or mistyped wordsWrong structure or numberingWrong title or detailsText that appears twice

What should change, and whyUp to 2,000 characters.The text as it should read (optional)

—(1) 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 must not arrange for a person to act as a nominee director of a company, unless the registered corporate service provider is satisfied that the person is a fit and proper person.(2) In determining for the purposes of subsection (1) whether a person is a fit and proper person, the registered corporate service provider must —(a)take all reasonable steps to satisfy himself, herself or itself that the person is not disqualified from acting as a director of a company under any written law; and(b)consider such factors as may be prescribed.(3) A registered corporate service provider who fails to comply with subsection (1) shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $100,000.
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 must not arrange for a person to act as a nominee director of a company, unless the registered corporate service provider is satisfied that the person is a fit and proper person.
In determining for the purposes of subsection (1) whether a person is a fit and proper person, the registered corporate service provider must —(a)take all reasonable steps to satisfy himself, herself or itself that the person is not disqualified from acting as a director of a company under any written law; and(b)consider such factors as may be prescribed.
A registered corporate service provider who fails to comply with subsection (1) shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $100,000.

Edit the text above. Up to 20,000 characters.Where you checked it (optional)A link to the official version, if you have one.

The text as we hold it

Open the official text

s 16Arranging for person to act as nominee director

(1)

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 must not arrange for a person to act as a nominee director of a company, unless the registered corporate service provider is satisfied that the person is a fit and proper person.

(2)

In determining for the purposes of subsection (1) whether a person is a fit and proper person, the registered corporate service provider must —

(a)

take all reasonable steps to satisfy himself, herself or itself that the person is not disqualified from acting as a director of a company under any written law; and

(b)

consider such factors as may be prescribed.

(3)

A registered corporate service provider who fails to comply with subsection (1) shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $100,000.