Singapore legislation
Section 65
Section 65
Meaning of “voting power”
(1)
For the purposes of this Part, a reference to the voting power in a company is a reference to the total rights of shareholders to vote, or participate in any decision‑making, concerning any of the following:
the making of distributions of capital or profits of the company to its shareholders;
the memorandum and articles of association of the company, or any rules or other documents constituting the company or governing its activities;
any variation of the share capital of the company.
(2)
A reference in this Part to control of a percentage of the voting power in an entity is a reference to control that is direct or indirect, including control that is exercisable as a result of or by means of arrangements or practices, whether or not having legal or equitable force and whether or not based on legal or equitable rights, of that percentage of the total number of votes that may be cast in a general meeting of the entity.
(3)
Where a company is limited both by shares and by guarantee or does not have a share capital, subsection (1) has effect as if the members or policy holders of the company were shareholders in the company.
(4)
If the percentage of total rights to vote or participate in decision‑making differs as between different types of voting or decision‑making, the highest of those percentages applies for the purposes of this Part.