Singapore legislation

Clause 16

of Companies (Amendment) Bill

Clause 16

Amendment of section 131

Section 131 of the Companies Act is amended —

(a)

by deleting subsection (1)(a) and (b) and substituting the words “an affidavit verifying the execution of the charge and also verifying the correctness of the statement,”;

(b)

by inserting, immediately after subsection (1), the following subsection:“(1A) In connection with the registration of a charge to which this section applies which is created by a company there shall be produced to the Registrar for the purposes of inspection, whenever required by him, the instrument (if any) by which the charge is created or evidenced or a certified true copy thereof.”;

(c)

by deleting the words “instrument creating or purporting to create the charge or a copy thereof” in the second and third lines of subsection (4) and substituting the words “statement of the prescribed particulars”; and

(d)

by deleting sub-paragraphs (e), (f) and (g) of subsection (5) and substituting the words “the verifying affidavit.”.