Singapore legislation

Clause 18

of Companies (Amendment) Bill

Clause 18

New section 137A

The principal Act is hereby amended by inserting immediately after section 137 thereof the following section: —“Alteration of articles so as to improve director’s emoluments137A.—

(1)

A company shall not at any meeting alter or add to its articles so as to provide emoluments or improve emoluments for a director of a company in respect of his office as such unless the provision is approved by a resolution that is not related to other matters.(2) In this section “emoluments” in relation to a director includes fees and percentages, any sums paid by way of expenses allowance in so far as those sums are charged to income tax in Singapore, any contribution paid in respect of a director under any pension scheme and any benefits received by him otherwise than in cash in respect of his services as director.”.

Clause 18 — Companies (Amendment) Bill | laws.sg