Nominee directors
386AL.—(1)  A director of a company incorporated on or after 31 March 2017 —
(a)who is a nominee must inform the company of that fact and provide such prescribed particulars of the person for whom the director is a nominee within 30 days after the date of incorporation; and
(b)who becomes a nominee must inform the company of that fact and provide such prescribed particulars of the person for whom the director is a nominee within 30 days after the director becomes a nominee.
[15/2017]
(2)  A director of a company incorporated before 31 March 2017 —
(a)who is a nominee must inform the company of that fact and provide such prescribed particulars of the person for whom the director is a nominee within 60 days after 31 March 2017; and
(b)who becomes a nominee must inform the company of that fact and provide such prescribed particulars of the person for whom the director is a nominee within 30 days after the director becomes a nominee.
[15/2017]
(3)  A director of a company mentioned in subsection (1) or (2) must inform the company —
(a)that he or she ceases to be a nominee within 30 days after the cessation; and
(b)of any change to the particulars provided to the company under that subsection within 30 days after the change.
[15/2017]
(4)  [Deleted by Act 2 of 2022 wef 30/05/2022]
(5)  [Deleted by Act 2 of 2022 wef 30/05/2022]
(6)  If a director fails to comply with subsection (1), (2) or (3), the director shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $5,000.
[15/2017]
(7)  [Deleted by Act 2 of 2022 wef 30/05/2022]
(8)  In this section and section 386AKA, a director is a nominee if the director is accustomed or under an obligation whether formal or informal to act in accordance with the directions, instructions or wishes of any other person.
[15/2017]
[Act 2 of 2022 wef 30/05/2022]