Singapore legislation
Clause 17
Clause 17
New section 135A
The principal Act is hereby amended by inserting immediately after section 135 thereof the following section: —“Duty of director to notify Stock Exchange of acquisition, etc., of its securities135A.—
Where a person is obliged by virtue of section 135 to notify a company of any matter within any period, then, if that matter relates to shares or debentures listed on a Stock Exchange (as defined in the Securities Industry Act, 1973 (Act 17 of 1973)) he shall also be obliged to notify the Stock Exchange of that matter within the like period; and the Stock Exchange may publish, in such manner as it may determine, any information received by it under this subsection.(2) Any person who fails to comply with subsection (1) of this section shall be guilty of an offence under this Act and shall be liable on conviction to imprisonment for a term not exceeding three years or to a fine not exceeding ten thousand dollars and, in the case of a continuing offence, to a further fine of one thousand dollars for every day or part thereof during which the offence is continued after conviction.”.