Singapore legislation

Section 67

of Variable Capital Companies Act 2018

Section 67

Disclosure of director’s emoluments and general duty to make disclosure

Amended by28/2019

Sections 164A and 165 of the Companies Act 1967 apply in relation to a VCC and a director of a VCC, as they apply in relation to a company and a director of a company, subject to sections 5 and 66(14) and the following modifications:

(a)

the reference in section 164A(1)(a) of the Companies Act 1967 to the company itself if it is registered as its own member is to a subsidiary of the VCC that is registered as a member of the VCC;

(b)

the reference to treasury shares in section 164A(1)(b) of the Companies Act 1967 is to shares held by a subsidiary of the VCC under section 22(6) or (11) (if any);

(c)

the reference in section 165(1) of the Companies Act 1967 to section 164 of that Act is to section 66;

(d)

all references in section 165 of the Companies Act 1967 relating to a chief executive officer are omitted;

(e)

section 165(7), (8) and (10) of the Companies Act 1967 is omitted.

Read in full context — Variable Capital Companies Act 2018 →