Question 1

1. Under the provisions of the Company Law, a company needs at least one director, and the maximum number of directors can be generally stated in the articles of association.

Accepted Answer

If a company has only one director, the sole director may also be the sole shareholder of the company. Then, the director cannot be the legal secretary of the company at the same time. That is, a company with only one director must have at least two public servants of the company, such as directors and secretaries.

Question 2

2. At least one director must be a resident of Singapore.

Accepted Answer

This means that least one of the directors should have a local residential address. Singaporean citizens, permanent residents of Singapore and business permit holders can be regarded as permanent residents of Singapore. EP Senior Staff Visa holders are also regarded as permanent resident of Singapore, subject to the current local laws and regulations governing the employment of foreign talent.

Question 3

3. People over the age of 18 can be a director of a company.

Accepted Answer

The minimum age requirement for directors of a private limited company is 18 years and there is no maximum age limit. The minimum age requirement for directors of a listed company or a subsidiary of this listed company is 18 years and the maximum age is 70 years, unless the director is re-appointed as a director at the annual general meeting of the company.

Question 4

4. Who can't be a director of a company?

Accepted Answer

- A bankrupted person
- A person convicted of criminal offences such as fraud or dishonesty
- Those who are disqualified pursuant to court order
- Those convicted for at least 3 years of more for an offence punishable under the Companies Act within a period of 5 years
- Received three or more court orders against the acts within a period of 5 years
-Company wound up for reasons of national security and interest

Question 5

5. Obligation to report changes

Accepted Answer

A director is required to notify the company in writing if his directorship is disqualified. The company is required to report this matter to the Accounting and Corporate Regulatory Authority of Singapore (ACRA) within one month of being notified, as ACRA does not automatically update directors. After disqualification, a director is obliged to give written notice to every company in which he serves. * * If a director has been disqualified from being a director but has not notified the company in writing, he will violate the provisions of the Companies Act and will be fined not more than 15,000 SGD or imprisoned for not more than three years. At the same time, if he continues to violate the law after being convicted, he will be fined 1,000 SGD per day.

* * * If the company fails to report to ACRA after receiving written notice of disqualification of the director, it will be fined up to 5000 SGD and will pay a fine of up to 200 SGD per day if the company continues to violate the Act after conviction.

Directors' Duty

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