Changes To Directors’ Duties In Singapore

Significant changes to the Singapore Companies Act (CA) are expected to come into force in the second quarter of 2015 by way of the Companies (Amendment) Act 2014 (Amendment Act).

The Amendment Act will introduce wide-ranging revisions designed to reduce the regulatory burden on companies, promote business flexibility and improve corporate governance. We focus here on the impact these legislative amendments will have on directors, including the enhancement of protections for directors, the clarification of the roles and duties of directors, and the widening of certain director's liabilities:

• The definition of director will be clarified to include a person who controls the majority of the directors (however a separate definition of shadow director will not be included)