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  • Roger Harrold

Nominee Director ?

The use of the term Nominee Director conjures up a form of "lesser responsibility" to that of any other Director. That perception is both misleading and incorrect.

A Nominee Director is a person appointed to represent the interests of another individual or third party. As an example, a Nominee director can be appointed to act on behalf of a non resident majority shareholder, major creditor or a special class of shareholder.

The important point to remember is that as an appointed Director you have exactly the same obligations, responsibility and liability as any other Board Director. In fact that liability can be extensive to those not fully acquainted with the purpose of the legal entity - think about the difference between a corporate logistic company and that of a Trust, Fund or Regulated entity. You cannot reduce liability through adding some terminology!

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