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Directors Responsibilities

DIRECTORS RESPONSIBILITIES

As the only local director of a company, am I allowed to resign?
NO, the Companies Act requires every company to have at least one director who is ordinarily resident in Brunei Darussalam.

If I become bankrupt, must I resign?
YES

What happens if the director(s) of a company becomes bankrupt and there are no more directors left in the company?
The shareholders have to appoint new director(s).

A company has two directors, one local and one foreigner. If the foreign director cannot be contacted, will the local director be held responsible for the company?
YES. Any person who consents to act as director must discharge his duties as required under the Companies Act.

If I am ignorant of the law and I consent my name being used as a director to incorporate a company, will I be held responsible for the company?
YES. A person who consents to act as a director must discharge his duties as required under the Companies Act. IGNORANCE OF THE LAW IS NO EXCUSE.

Can a ‘sleeping’ director be issued with a summons?
YES. The law does not give any distinction between an “active” or a “sleeping” director. Any person who consents to act as a director must discharge his duties as required under the Companies Act. He is liable for prosecution if he does not carry out his legal obligation

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