New Exemptions for Foreign Companies from Keeping Register of Members, Register of Registrable Controllers and Register of Nominee Shareholders

A foreign company that is registered under the Companies Act 1967 (“CA“) is, unless exempted, subject to various disclosure requirements including:

• Keeping a register of its members pursuant to section 379 of the CA; and
• Keeping a register of its shareholders who are nominees and a register of its registrable controllers pursuant to Part 11A of the CA.

With effect from 28 June 2023, new exemptions from the above requirements are available to certain foreign companies subject to the fulfilment of prescribed conditions.

This Update briefly highlights these new exemptions and the key conditions for the exemptions to apply.