Singapore legislation
Clause 54
Clause 54
Amendment of section 304
Section 304 of the Companies Act is amended —
(a)
by deleting the words “twelve months or to a fine not exceeding two thousand five hundred dollars” in the sixth and seventh lines of subsection (5) and substituting the words “seven years or to a fine not exceeding fifteen thousand dollars or both”; and
(b)
by inserting, immediately after subsection (5), the following subsection:“(5A) Subsection (5) shall apply to a company whether or not it has been, or is in the course of being, wound up.”.