Singapore legislation
Clause 13
Clause 13
Amendment of section 171
Section 171 of the principal Act is hereby amended —
(a)
by inserting immediately after subsection (2) thereof the following new subsection: —“(3) If an offence under this section is committed with intent to defraud creditors of the company or creditors of any other person or for a fraudulent purpose, the offender shall be liable on conviction to imprisonment for a term not exceeding three years or to a fine not exceeding ten thousand dollars or to both such imprisonment and fine.”; and
(b)
by renumbering the existing subsection (3) thereof as subsection (4).