What is Register Registrable Controller and Register of Nominee Director
WHAT IS REGISTER OF REGISTRABLE CONTROLLERS ?
A CONTROLLER BASED ON SIGNIFICANT INTEREST
An Individual who has
- interest in more than 25% of the share
- shares with more than 25% of total voting power in the Company
B. CONTROLLER BASED ON SIGNIFICANT CONTROL
Controller who :
- Holds the right to appoint or remove director with majority of voting right at director meeting
- Hold more than 25% of the right to vote on matters that are to be decided upon by a vote of the members of the Company OR
- Exercise or has the right to exercise significant influence or control over the company
REGISTER REGISTRABLE CONTROLLER WITH EFFECT FROM ?
Click here for the FAQ
WHAT IS REGISTER OF NOMINEE DIRECTOR ?
Is 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.
The obligation to act in accordance with the directions, instructions or wishes of any other person may arise formal legal obligation (example contract, trust) or informal arrangements
REGISTER DIRECTOR WITH EFFECT FROM ?
Depend on the DATE OF INCORPORATION.
- Company Incorporated BEFORE 31 March 2017
- Who is Nominee must inform company of the fact and provide particulars of the Nominator within 60 days after 31 march 2017 AND
- Who become Nominee must inform the company of that fact and provide the particular of the Nominator within 30 days after the director becomes a Nominee
- Company Incorporated AFTER 31 March 2017
- Who is Nominee must inform company of the fact and provide particulars of the Nominator within 30 days after DATE OF INCORPORATION AND
- Who become Nominee must inform the company of that fact and provide the particular of the Nominator within30 days after the director becomes a nominee
WHO TO PREPARE ?
- Director
- Company Secretary
HOW TO PREPARE ?
- IDENTIFY who is Controller and obtain information on the Controllers
- NOTICE must be send to identified Controller ( in electronic OR hard form
- Company must enter information into its register of controller within 2 days of receipt of a reply to the notice.
INFORMATION TO BE MAINTAINED IN THE REGISTER REGISTRABLE CONTROLLER
- Full Name
- Residential Address
- Nationality
- Identification Number
- Date of Birth
- Date on which the person become
- Date of which the person ceases
- Date of which the person become nominator
- Date of which the person cease to be nominator
WHERE TO KEEP REGISTER ?
Register office is the ideal place to keep it. It may kept in Soft or hard copy form
And only Company officer ie Director and Company secretary have right to access on it
From time to time, authorities agent ie ACRA may request a copy from the Company
