Singapore legislation

Clause 48

Amendment of section 181

Section 181 of the Companies Act is amended —

(a)

by deleting the word “oppressive” in the third line of paragraph (a) of subsection (1) and substituting the words “unfairly prejudicial”;

(b)

by inserting, immediately after paragraph (b) of subsection (2), the following paragraph:“(bb)authorise civil proceedings to be brought in the name of or on behalf of the company by such person or persons and on such terms as the Court may direct;”; and

(c)

by inserting, immediately after subsection (6), the following subsection:“(7) This section shall apply to a person who is not a member of a company but to whom shares in the company have been transferred or transmitted by operation of law as it applies to members of a company; and references to a member or members shall be construed accordingly.”.

Read in full context — Companies (Amendment) Bill →