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Nominee Shareholder Declaration Of Trust

Nominee Shareholder Declaration Of Trust Template for Singapore

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Key Requirements PROMPT example:

Nominee Shareholder Declaration Of Trust Template

I need a Nominee Shareholder Declaration Of Trust Template for my Singapore tech startup where I will appoint a corporate service provider as nominee shareholder for 10,000 ordinary shares, with specific provisions for quarterly dividend distributions and remote voting arrangements.

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Document background
The Nominee Shareholder Declaration Of Trust Template is essential in Singapore's corporate landscape where nominee arrangements are commonly used for legitimate business purposes. This document is typically employed when there's a need to separate legal and beneficial ownership of shares, whether for confidentiality, administrative efficiency, or corporate structuring purposes. It complies with Singapore's strict regulatory framework, including requirements under the Companies Act and anti-money laundering regulations. The declaration includes detailed provisions about the nominee's duties, beneficial owner's rights, voting arrangements, and dividend distributions, while ensuring transparency with relevant authorities.
Suggested Sections

1. Parties: Identifies the nominee shareholder (trustee) and beneficial owner (beneficiary)

2. Background: Context of the nominee arrangement and share ownership

3. Definitions: Key terms used throughout the declaration

4. Declaration of Trust: Core declaration confirming the nominee holds shares in trust

5. Trustee Obligations: Duties and responsibilities of the nominee shareholder

6. Beneficiary Rights: Rights retained by the beneficial owner

7. Voting Rights: Arrangements for exercising voting rights attached to shares

Optional Sections

1. Dividend Arrangements: Section covering the handling of dividends and distributions, used when dividend payments are expected

2. Share Transfer Provisions: Section detailing the process for transferring shares, used when future transfers are contemplated

3. Termination Provisions: Section outlining circumstances and process for ending the arrangement, used when specific termination conditions are needed

Suggested Schedules

1. Schedule 1: Share Details: Specific details of shares held under trust (number, class, etc.)

2. Schedule 2: Company Details: Information about the company whose shares are held

3. Appendix A: Powers of Attorney: If required for specific voting or corporate actions

4. Appendix B: KYC Documentation: Required identification and verification documents

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

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alex.den.21@genieai.co
Clauses
Interpretation
Declaration of Trust
Appointment of Nominee
Trust Property
Voting Rights
Dividends and Distributions
Powers and Duties of Nominee
Rights of Beneficial Owner
Covenants and Undertakings
Instructions and Directions
Representations and Warranties
Indemnification
Fees and Expenses
Termination
Transfer of Shares
Confidentiality
Notices
Assignment
Severability
Entire Agreement
Amendments
Governing Law
Dispute Resolution
Counterparts
Third Party Rights
Force Majeure
Anti-Money Laundering Compliance
Power of Attorney
Industries

Companies Act (Chapter 50): Primary legislation governing corporate entities in Singapore, covering shareholding requirements, beneficial ownership disclosure, share transfers and registration, plus directors' and shareholders' duties and obligations

Securities and Futures Act (Chapter 289): Regulates securities holdings, trading restrictions, and disclosure requirements for securities transactions in Singapore

Trust Companies Act (Chapter 336): Governs trust arrangements, defining trustee duties and obligations, and trust administration requirements in Singapore

Trustees Act (Chapter 337): Establishes fundamental trust law principles, trustee powers and duties, and requirements for trust property management

Anti-Money Laundering Regulations: Encompasses MAS Guidelines, Prevention of Money Laundering and Terrorism Financing Act, and Know Your Customer (KYC) requirements

Income Tax Act (Chapter 134): Covers tax implications of trust arrangements, reporting requirements, and tax treatment of nominee arrangements

Stamp Duties Act (Chapter 312): Stipulates requirements for stamp duty on trust documents and considerations for transfer of shares

Singapore Code of Corporate Governance: Provides principles and guidelines for corporate governance practices in Singapore

SGX Listing Rules: Applicable to listed companies, setting out requirements for listed entities and their shareholders

Common Law Principles: Established legal principles regarding trusts and fiduciary duties from case law precedents

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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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