Companies Act · 2021 Revised Edition · Part · Restrictions on Sale of Shares and Offers of Shares for Sale
Section 310L
Official textFrom Attorney General's Chambers, unchanged
A director of a company incorporated on or after the appointed day -
director
"director" includes any person occupying the position of director of a corporation by whatever name called and includes a person in accordance with whose directions or instructions the directors of a Companies corporation are accustomed to act and an alternate or substitute director;
who is a nominee shall 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
who becomes a nominee shall 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.
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Companies
A director of a company incorporated before the appointed day -
who is a nominee shall 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 the appointed day;
and
who becomes a nominee shall 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.
A director of a company mentioned in subsection (1) or (2)
shall inform the company -
that he ceases to be a nominee within 30 days after the cessation; and
of any change to the particulars provided to the company under that subsection within 30 days after the change.
A company shall keep a register of its directors who are nominees (in this Part referred to as the register of nominee directors) in such form as the Registrar may determine and at such place as may be prescribed.
Registrar
"Registrar" means the Registrar of Companies appointed under section 288, and includes any Deputy Registrar or Assistant Registrar;
Subject to section 310M, a company shall not disclose, or make available for inspection, the register of nominee directors or any particulars contained in the register of nominee directors to any member of the public.
member of the public
"member of the public" includes - (a) in the case of a company, any member of the company acting in the member's capacity as such; and @) in the case of a foreign company, any member of the foreign company acting in the member's capacity as such;
If a director fails to comply with subsection (I), (2) or (3), the director is guilty of an offence and liable on conviction to a fine not exceeding $5,000.
If a company fails to comply with subsection (4) or (5), the company, and every officer of the company who is in default, shall each be guilty of an offence and shall each be liable on conviction to a fine not exceeding $5,000.
officer
"officer", in relation to a corporation, includes - (a) any director or secretary of the corporation or a person employed in an executive capacity by the corporation; @) a receiver and manager of any part of the undertaking of the corporation appointed under a power contained in any instrument; and (c) any liquidator of a company appointed in a voluntary winding up, but does not include - (i) any receiver who is not also a manager; (ii) any receiver and manager appointed by the Court; (iii) any liquidator appointed by the Court or by the creditors; and (iv) an Executive Manager appointed by the Minister under section 230(1) of the Insolvency Order, 2016 (S 112016);
Companies
CAP. 39 239
In this section, 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.
In this section, "appointed day" means the date of commencement of the Companies Act (Amendment) Order, 2020
a
Terms defined in this Act
director
Defined · s 2"director" includes any person occupying the position of director of a corporation by whatever name called and includes a person in accordance with whose directions or instructions the directors of a Companies corporation are accustomed to act and an alternate or substitute director;
member of the public
Defined · s 310B"member of the public" includes - (a) in the case of a company, any member of the company acting in the member's capacity as such; and @) in the case of a foreign company, any member of the foreign company acting in the member's capacity as such;
officer
Defined · s 2"officer", in relation to a corporation, includes - (a) any director or secretary of the corporation or a person employed in an executive capacity by the corporation; @) a receiver and manager of any part of the undertaking of the corporation appointed under a power contained in any instrument; and (c) any liquidator of a company appointed in a voluntary winding up, but does not include - (i) any receiver who is not also a manager; (ii) any receiver and manager appointed by the Court; (iii) any liquidator appointed by the Court or by the creditors; and (iv) an Executive Manager appointed by the Minister under section 230(1) of the Insolvency Order, 2016 (S 112016);
Registrar
Defined · s 2"Registrar" means the Registrar of Companies appointed under section 288, and includes any Deputy Registrar or Assistant Registrar;
Part
Prohibition of Partnerships with More Than Twenty Members
Part