Singapore legislation
Section 133
Section 133
Duty of director or chief executive officer to notify corporation of his or her interests
(1)
Every director and chief executive officer of a corporation must give written notice to the corporation of particulars of —
shares in ––
the corporation; or
a related corporation of the corporation,which he or she holds, or in which he or she has an interest and the nature and extent of that interest;
debentures of —
the corporation; or
a related corporation of the corporation,which he or she holds, or in which he or she has an interest and the nature and extent of that interest;
his or her rights or options, or rights or options of his or hers and another person or other persons, in respect of the acquisition or disposal of shares in or debentures of —
the corporation; or
a related corporation of the corporation;
contracts to which he or she is a party, or under which he or she is entitled to a benefit, being contracts under which a person has a right to call for or to make delivery of shares in ––
the corporation; or
a related corporation of the corporation;
participatory interests made available by —
the corporation; or
a related corporation of the corporation,which he or she holds, or in which he or she has an interest and the nature and extent of that interest;
such other securities or securities‑based derivatives contracts as the Authority may prescribe, which are held, whether directly or indirectly, by him or her, or in which he or she has an interest and the nature and extent of that interest; and
any change in respect of the particulars of any matter referred to in paragraphs (a) to (f).
(2)
Paragraphs (a)(ii), (b)(ii), (c)(ii), (d)(ii), (e) and (g) (in respect of a change in the particulars of any matter referred to in paragraphs (a)(ii), (b)(ii), (c)(ii), (d)(ii) and (e)) of subsection (1) only apply to a director of a corporation which is a company.
(3)
A notice under subsection (1) —
must be in such form and must contain such information as the Authority may prescribe; and
must be given —
in the case of a notice under subsection (1)(g), within 2 business days after the director or chief executive officer becomes aware of the change; or
in any other case, within 2 business days after —
the date on which the director or chief executive officer becomes such a director or chief executive officer; or
the date on which the director or chief executive officer becomes a holder of, or acquires an interest in, the shares, debentures, rights, options, contracts, participatory interests, other securities or securities‑based derivatives contracts referred to in subsection (1),whichever last occurs.
(4)
For the purposes of this section ––
a director or chief executive officer of a corporation is deemed to have an interest in securities or securities‑based derivatives contracts referred to in subsection (1) if a family member of the director or chief executive officer (not being himself or herself a director or chief executive officer of the corporation) (as the case may be) holds or has an interest in those securities or securities‑based derivatives contracts; and
any contract entered into by, any assignment or right of subscription made or exercised by, or any grant made to, a family member of a director or chief executive officer of a corporation (not being himself or herself a director or chief executive officer of the corporation) is deemed to have been entered into by, made or exercised by or made to the director or chief executive officer.
(5)
In this section ––
a reference to a participatory interest is a reference to a unit in a collective investment scheme; and
a reference to a person who holds or acquires participatory interests, other securities or securities‑based derivatives contracts referred to in subsection (1), or an interest in shares, debentures, participatory interests, other securities or securities‑based derivatives contracts referred to in that subsection, includes a reference to a person who under an option holds or acquires a right to acquire or dispose of the participatory interests, securities or securities‑based derivatives contracts, or the interest in shares, debentures, participatory interests, securities or securities‑based derivatives contracts.
(6)
In this section, “family member” means a spouse, or a son, adopted son, stepson, daughter, adopted daughter or stepdaughter below the age of 21 years.