For the purposes of maintaining the Register of Nominee Directors, Nominee directors are required to inform their companies of their nominee directorship.
Nominee directors are now required to inform their companies of their status as the company’s nominee director and provide certain particulars of his nominator to be written into the Register of Nominee Directors with certain deadlines.
With effect from 31 March 2017, Companies are required to each:
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- keep a register of its nominee directors containing the particulars of the nominators of the company’s nominee directors; and
- produce the register of nominee directors and any related document to the Registrar, an officer of the Accounting and Corporate Regulatory Authority or a public agency, upon request.
Under the updated Companies Act, companies MUST file nominee director and nominator information with ACRA’s central Register of Nominee Directors (ROND) registry. This is in addition to maintaining the internal Register of Nominee Directors (ROND). The company must:
- Maintain an internal Register of Nominee Directors (ROND); and
- File the Register of Nominee Directors (ROND) details with ACRA via BizFile+.
This mirrors the updated obligations for RORC filings.
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