s 145A Acting as nominee director
145A.—(1) Subject to subsection (2), a person must not, on or after the appointed day, act as a nominee director of a company by way of business, unless —(a) the person is 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; or (b) his or her so acting is arranged by a registered corporate service provider for that corporate service. (2) Subsection (1) does not apply where —(a) the person acts as a nominee director of his or her affiliated company; or (b) the person had commenced acting as a nominee director of the company before the appointed day. (3) Any person who contravenes subsection (1) shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $10,000 and, in the case of a continuing offence, to a further fine not exceeding $1,000 for every day or part of a day during which the offence continues after conviction. (4) In this section —“affiliated company”, in relation to a person, means —(a) a company that employs the person; or (b) a company which by virtue of section 6 is deemed to be related to a corporation that employs the person; “appointed day” means the date of commencement of section 38(b) of the Corporate Service Providers Act 2024; “nominee director” means a director who is accustomed or under an obligation whether formal or informal to act in accordance with the directions, instructions or wishes of any other person.[Act 22 of 2024 wef 09/06/2025] —(1) Subject to subsection (2), a person must not, on or after the appointed day, act as a nominee director of a company by way of business, unless —(a) the person is 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; or (b) his or her so acting is arranged by a registered corporate service provider for that corporate service. (2) Subsection (1) does not apply where —(a) the person acts as a nominee director of his or her affiliated company; or (b) the person had commenced acting as a nominee director of the company before the appointed day. (3) Any person who contravenes subsection (1) shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $10,000 and, in the case of a continuing offence, to a further fine not exceeding $1,000 for every day or part of a day during which the offence continues after conviction. (4) In this section —“affiliated company”, in relation to a person, means —(a) a company that employs the person; or (b) a company which by virtue of section 6 is deemed to be related to a corporation that employs the person; “appointed day” means the date of commencement of section 38(b) of the Corporate Service Providers Act 2024; “nominee director” means a director who is accustomed or under an obligation whether formal or informal to act in accordance with the directions, instructions or wishes of any other person.[Act 22 of 2024 wef 09/06/2025]