Singapore legislation
Section 64
Section 64
Application and interpretation of this Division
(1)
This Division applies to, and in relation to, all individuals whether resident in Singapore or not and whether citizens of Singapore or not, and to all bodies corporate or unincorporate, whether incorporated or carrying on business in Singapore or not.
(2)
In this Division, unless the context otherwise requires —
Definition
“arrangement” includes any formal or informal scheme, arrangement or understanding, and any trust whether express or implied;
Definition
“related corporation”, in relation to a corporation, means a corporation that is deemed to be related to the firstmentioned corporation under section 6 of the Companies Act 1967;
Definition
“relevant date”, in relation to a corporation, means the date on which a casino licence granted to that corporation first commences, whether before, on or after 31 January 2013;
Definition
“substantial shareholder” has the meaning given by section 81 of the Companies Act 1967.
(3)
In this Division, a person, A, is an associate of another person, B, if —
A is a spouse, a parent, remoter lineal ancestor or step‑parent, a son, daughter, remoter issue, stepson or stepdaughter or a brother or sister of B;
A is a corporation the directors of which are accustomed or under an obligation, whether formal or informal, to act in accordance with the directions, instructions or wishes of B, or where B is a corporation, of the directors of B;
B is a corporation the directors of which are accustomed or under an obligation, whether formal or informal, to act in accordance with the directions, instructions or wishes of A, or where A is a corporation, of the directors of A;
A is a person who is accustomed or under an obligation, whether formal or informal, to act in accordance with the directions, instructions or wishes of B;
B is a person who is accustomed or under an obligation, whether formal or informal, to act in accordance with the directions, instructions or wishes of A;
A is a related corporation of B;
A is a corporation in which B, alone or together with other associates of B as described in paragraphs (b) to (f), is in a position to control not less than 20% of the votes in A;
B is a corporation in which A, alone or together with other associates of A as described in paragraphs (b) to (f), is in a position to control not less than 20% of the votes in B; or
A is a person with whom B has an agreement or arrangement, whether oral or in writing and whether express or implied, to act together with respect to the acquisition, holding or disposal of shares or other interests in, or with respect to the exercise of their votes in relation to, the corporation.
(4)
For the purposes of this Division, a person has an interest in any share if —
the person is deemed to have an interest in that share under section 7 of the Companies Act 1967; or
the person otherwise has a legal or an equitable interest in that share except for such interest as is to be disregarded under section 7 of the Companies Act 1967.