The Minister of State for Trade Promotion, Digital and Company Regulation added: “The provision of a PPS number will help to avoid duplication in situations where there may be variations of a director’s name and address. It will enhance CRO efforts to guard against abuse of the register by providing assurance that the information provided relates to a real person.”
He said the new rule would “safeguard the integrity” of the register of more than 287,000 companies, and make it easier for authorities to ensure compliance with company law, including the provision that no director should hold more than 25 board positions at any one time. Any directors who does not have a PPS number can apply to Companies Office for an “identified person number” which can be used as an alternative.
The Department of Enterprise, Trade and Employment said the numbers would be stored securely in encrypted form and would not be accessible to Companies Office staff or outsiders.
Singapore Singapore Latest News, Singapore Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: thejournal_ie - 🏆 32. / 50 Read more »