Clause 8

by inserting a marginal note against subsection (3) as follows:“Form of Contract.”;

by deleting the word “company” wherever it appears in subsections (3) to (7) and substituting in each case the word “corporation”; and

by inserting, immediately after subsection (7), the following subsections:“Authority of agent of a corporation need not be under seal, unless seal required by law of foreign state(8) The fact that a power of attorney or document of authorisation given to or in favour of the donee of the power or agent of a corporation is not under seal shall not, if such power of attorney or document of authorisation is valid as a power of attorney or document of authorisation in accordance with the laws of the country under which such corporation is incorporated, affect for any purpose intended to be effected in Singapore the validity or effect of any instrument under seal executed on behalf of that corporation by such donee of the power or agent, which shall for all such purposes whatsoever be as valid as if such authority had been under seal.Retrospective application(9) Subsection (8) shall also apply to every instrument under seal executed before the commencement of the Companies (Amendment) Act 1986 on behalf of any corporation by a donee of a power or an agent of that corporation whose authority was not under seal.”.