![]() ![]() In conjunction with the new requirement, related amendments have been made to the Guidance on Register of Nominee Directors for Companies issued by the Accounting and Corporate Regulatory Authority (“ ACRA”) and the Companies (Register of Controllers and Nominee Directors) Regulations 2017. The express seven-day time limit provides clarity on the expected timeline for updating the register and ensures that the register is updated in a timely manner. Local companies are now required to update their register of nominee directors where any new fact or particulars are provided to the company, where a director ceases to be a nominee, or where there is a change in certain particulars entered in the register, within seven days after being informed of the relevant update. Time frame for local companies to update register of nominee directors The Amendment Act amends the Companies Act 1967 and the Limited Liability Partnerships Act 2005 to strengthen Singapore’s corporate governance regime and affirm Singapore’s commitment to combating money laundering, terrorism financing and other threats to the integrity of the international financial system. ![]() Amendments to the Companies Act 1967 introduced by the Corporate Registers (Miscellaneous Amendments) Act 2022 (“ Amendment Act”) to clarify the timelines for local and foreign companies to update their various registers came into operation on.
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