Director Acceptance Letter Template for Singapore

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Director Acceptance Letter

"Need a Director Acceptance Letter for a newly appointed independent director of our Singapore fintech startup, with specific focus on compliance with cryptocurrency regulations and appointment to our risk management committee, effective March 1, 2025."

Document background
The Director Acceptance Letter is a crucial corporate governance document required under Singapore's Companies Act 1967. It is used when appointing new directors to a company's board and serves multiple purposes: documenting the formal acceptance of the appointment, confirming the director's eligibility, acknowledging statutory duties, and ensuring compliance with regulatory requirements. This document is essential for corporate record-keeping and regulatory filings with ACRA, and typically includes key information about the appointment, statutory declarations, and compliance confirmations.
Suggested Sections

1. Appointment Details: Position title, effective date, and term of appointment

2. Statutory Declarations: Confirmation of eligibility and no disqualifications under Companies Act

3. Role Acceptance: Explicit acceptance of directorship and associated responsibilities

4. Basic Duties: Overview of director's duties under Companies Act and company constitution

5. Compliance Confirmation: Acknowledgment of relevant laws and regulations

Optional Sections

1. Remuneration: Details of compensation package, applicable when director receives compensation

2. Committee Appointments: Specific board committee responsibilities, applicable when director is appointed to specific committees

3. Share Dealings: Trading restrictions and reporting obligations, applicable for listed companies

Suggested Schedules

1. Form 45: Consent to act as director form for ACRA filing

2. Declaration of Independence: For independent directors, confirming independence criteria

3. Company Constitution Extract: Relevant sections pertaining to directors' duties and powers

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Industries

Companies Act 1967: Primary legislation governing company directors in Singapore, covering qualifications (S145), disqualification (S146), residential requirements (S147), disclosure of interests (S156), and directors' duties and responsibilities (S157)

Securities and Futures Act: Regulates listed companies' directors, including disclosure obligations, securities trading restrictions, and insider trading provisions

Corporate Governance Code: Sets out principles and guidelines for board composition, director independence criteria, and limitations on multiple directorships

Employment Act: Relevant for terms of service and remuneration matters if the director has an employment relationship with the company

Personal Data Protection Act 2012: Governs the handling of personal information and consent requirements for directors' data

Income Tax Act: Addresses directors' remuneration and related tax obligations in Singapore

Company Constitution: Company-specific document outlining director appointment procedures, powers, duties, and any specific requirements for directors

Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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