Singapore legislation
Clause 31
Clause 31
Amendment of section 171
Section 171 of the Companies Act is amended by inserting, immediately after subsection (1), the following subsections:“(1A) It shall be the duty of the directors of a company to take all reasonable steps to secure that each secretary of the company is a person who appears to them to have the requisite knowledge and experience to discharge the functions of secretary of the company and who —
on the coming into operation of this provision held the office of secretary;
for at least 3 years of the 5 years immediately preceding the appointment as secretary, held the office of secretary of a company;
is a qualified person under the Legal Profession Act (Cap. 217), an accountant registered with the Singapore Society of Accountants, a member of the Singapore Association of the Institute of Chartered Secretaries and Administrators, a member of the Association of International Accountants (Singapore Branch), or a member of such other professional association as may be prescribed; or
is a person, who, by virtue of such academic or professional qualifications as may be prescribed, is capable of discharging those functions.(1B) In this subsection and section 173 “secretary” includes an assistant or deputy secretary.”.