§ 386AIA — Duty of company and foreign company to ensure information in register is up‑to‑date and correct

386AIA.—(1) A company or foreign company must, at the prescribed frequency, give a notice to each registrable controller whose particulars are stated in the company’s or foreign company’s register of controllers for the following purposes:(a)

to require the registrable controller to confirm whether or not a relevant change has occurred and, if the change has occurred, to —(i)

state the date of the change; and

(ii)

provide the particulars of the change;

(b)

to require the registrable controller to confirm whether the stated particulars of the registrable controller are correct and, if not, to provide the correct particulars.

(2) The notice mentioned in subsection (1) must —(a)

state that the addressee must comply with the notice not later than the time specified for compliance (which must be the prescribed time); and

(b)

be in such form, contain such particulars and be sent in such manner, as may be prescribed.

(3) An addressee of a notice under subsection (1) must comply with the notice no later than the time specified in the notice for compliance.

(4) If a company or foreign company fails to comply with subsection (1) or (2), the company or foreign company, and every officer of the company or foreign company who is in default, shall each be guilty of an offence and shall each be liable on conviction to a fine not exceeding $25,000.

(5) An addressee of a notice under subsection (1) who fails to comply with subsection (3) shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $25,000.

(6) For the purposes of this section, a relevant change occurs if —(a)

the registrable controller ceases to be one in relation to the company or foreign company, as the case may be; or

(b)

any other change occurs as a result of which the particulars of the registrable controller stated in the company’s or foreign company’s register of controllers are incorrect or incomplete.[Act 23 of 2024 wef 16/06/2025]

—(1) A company or foreign company must, at the prescribed frequency, give a notice to each registrable controller whose particulars are stated in the company’s or foreign company’s register of controllers for the following purposes:(a)

to require the registrable controller to confirm whether or not a relevant change has occurred and, if the change has occurred, to —(i)

state the date of the change; and

(ii)

provide the particulars of the change;

(b)

to require the registrable controller to confirm whether the stated particulars of the registrable controller are correct and, if not, to provide the correct particulars.

(2) The notice mentioned in subsection (1) must —(a)

state that the addressee must comply with the notice not later than the time specified for compliance (which must be the prescribed time); and

(b)

be in such form, contain such particulars and be sent in such manner, as may be prescribed.

(3) An addressee of a notice under subsection (1) must comply with the notice no later than the time specified in the notice for compliance.

(4) If a company or foreign company fails to comply with subsection (1) or (2), the company or foreign company, and every officer of the company or foreign company who is in default, shall each be guilty of an offence and shall each be liable on conviction to a fine not exceeding $25,000.

(5) An addressee of a notice under subsection (1) who fails to comply with subsection (3) shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $25,000.

(6) For the purposes of this section, a relevant change occurs if —(a)

the registrable controller ceases to be one in relation to the company or foreign company, as the case may be; or

(b)

any other change occurs as a result of which the particulars of the registrable controller stated in the company’s or foreign company’s register of controllers are incorrect or incomplete.[Act 23 of 2024 wef 16/06/2025]