Singapore legislation

Clause 10

of Companies (Amendment) Bill

Clause 10

Amendment of section 47

Section 47 of the principal Act is amended —

(a)

by deleting the word “corporation” wherever it appears in subsection (1) and substituting in each case the word “company”; and

(b)

by deleting subsections (2) and (3) and substituting the following subsection:“(2) Where subsection (1) applies to any offer or invitation with respect to shares or debentures of a company, an abridged prospectus shall be registered containing the particulars set out in Part V of the Fifth Schedule.”; and

(c)

by inserting, immediately after subsection (4), the following subsection:“(5) Nothing in this section shall be construed as preventing a full prospectus being registered containing the particulars set out in the Fifth Schedule (other than Part V thereof) in respect of an offer or invitation referred to in subsection (1).”.