§ 16 — Arranging for person to act as nominee director

16.—(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.

—(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.