The Accounting and Corporate Regulatory Authority (ACRA) has updated Form 45. Companies and Corporate Service Providers (CSPs) should use the revised form for all new director appointments and update their internal document templates and operating procedures accordingly.
ACRA announced amendments to Form 45 – Consent to Act as Director and Statement of Non-Disqualification to Act as Director on 1 July 2026. The amendments took effect on 6 May 2026.
Form 45 is used to obtain an incoming director’s consent to act and declaration that the person is not disqualified from acting as a company director.
ACRA has reminded all companies and CSPs to use the updated Form 45 when processing new director appointments.
What Are the Key Changes to Form 45?
The revised Form 45 includes two important new declarations.
1. Declaration Relating to Money Laundering Convictions
An incoming director must confirm that they have not been convicted of a money laundering offence under Singapore’s Corruption, Drug Trafficking and Other Serious Crimes (Confiscation of Benefits) Act 1992, commonly known as the CDSA.
This amendment follows the commencement of Section 154(1)(a)(iii) of the Companies Act on 6 May 2026. Under the provision, a person convicted of a relevant money laundering offence may be disqualified from acting as a company director.
2. Declaration on Directors’ Statutory Duties and Lawful Business Purposes
An incoming director must also declare that they:
- understand their statutory duties as a company director;
- undertake to use the company only for lawful business purposes; and
- understand that regulatory or legal action may be taken if the company is used for unlawful purposes.
This new declaration reinforces that directors should not merely provide formal consent to their appointment. They must understand their legal responsibilities and ensure that the company is not misused for money laundering, fraud or other illegal activities.
What Actions Should Companies and CSPs Take?
ACRA requires companies and CSPs to:
- use the updated Form 45 for all new director appointments;
- retain each completed and signed Form 45 as part of the company’s statutory records; and
- keep the relevant documents in accordance with Section 173C of the Companies Act.
Practical Impact on CSP Workflows
CSPs should review their existing director appointment documents and internal workflows as soon as possible to ensure that the updated version of Form 45 is being used.
The following areas should be reviewed:
- Form 45 templates maintained internally;
- company incorporation and client onboarding document packs;
- new director appointment and director change procedures;
- online forms, electronic signature and document-generation systems;
- internal operating procedures and document checklists; and
- director appointment records processed on or after 6 May 2026.
Where an old version of Form 45 was used for a director appointment after 6 May 2026, the CSP may consider reviewing the relevant documents and determining whether the director should complete the updated form.
Form 45 should not be treated as a purely administrative document. The new declarations reflect the increasing regulatory focus in Singapore on preventing companies from being misused for money laundering and other unlawful activities.
When assisting with company incorporation or director appointments, CSPs should not only obtain the required signed documents but should also carry out appropriate customer due diligence, identity verification, AML screening and risk assessment procedures.
Update Document Templates and Compliance Processes Promptly
The revised Form 45 has been available on ACRA’s website since 6 May 2026.
Companies and CSPs should discontinue the use of previous versions and ensure that their director appointment documents, internal procedures and electronic systems have been updated accordingly. This will help reduce compliance risks arising from the use of outdated forms.
Source: Accounting and Corporate Regulatory Authority (ACRA)
This article is provided for general information only and does not constitute legal or professional compliance advice. Companies and CSPs should refer to ACRA’s latest requirements and seek professional advice where necessary.