Singapore legislation

Clause 60

of Companies (Amendment) Bill

Clause 60

Amendment of section 328

Section 328 of the Companies Act is amended —

(a)

by deleting the words “4 months” in subsection (1)(b) and substituting the words “12 months”;

(b)

by deleting the word “fourthly” in subsection (1)(d) and substituting the word “fifthly”, and by deleting the word “fifthly” in subsection (1)(e) and substituting the word “fourthly”, and by renumbering subsection (1)(d) as (1)(e) and subsection (1)(e) as (1)(d); and

(c)

by inserting, immediately after the word “include” in the third line of subsection (2), the words “all arrears of”, and by inserting, immediately after the word “be” at the end of that subsection, the words “, and any gratuity or retrenchment benefit payable to an employee on termination of his employment”.