A "nominee" director is nothing more than a director as defined under the corporate statutes of Singapore. There is no legally defined "nominee" director. All this means is that you get a pre-signed letter of resignation from the director that you can date at anytime, should you not like the actions of your director.xxxsoulxxx wrote:Anyone know if a Singapore Citizen can hold multiple nominee director without doing much and perhaps collect a little monthly allowance? Definitely the investor has to be safe and no laws violated in any way.
ScoobyDoes wrote:As well as the pre-signed resignation letter what you can often get also is a Letter of Indemnity for the 'nominee' supposedly removing their legal risk but I'm not sure if that actually works in practise.
Strong Eagle wrote:ScoobyDoes wrote:As well as the pre-signed resignation letter what you can often get also is a Letter of Indemnity for the 'nominee' supposedly removing their legal risk but I'm not sure if that actually works in practise.
There is no way that this letter of indemnity can mean anything because directors' responsibilities are defined by the corporations act, and the act does not allow for exceptions. Can you say, "bullsh*t"?
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