Singapore legislation

Clause 15

Amendment of section 160A

Section 160A of the Companies Act is amended —

(a)

by deleting the words “unless the arrangement is first approved by a resolution of the company in general meeting and, if the director or connected person is a director of its holding company or a person connected with such a director, by a resolution in general meeting of the holding company” in subsection (1) and substituting the following words:“unless the arrangement is first approved —

(i)

in the case of a director of the company, or a person connected with that director, by a resolution of the company in general meeting; and

(ii)

in the case of a director of the holding company, or a person connected with that director, by a resolution of the holding company in general meeting”; and

(b)

by deleting the words “is not less than $5,000 but (subject to that)” in subsection (2).

Read in full context — Companies (Amendment) Bill →