Singapore legislation

Clause 17

of Companies (Amendment) Bill

Clause 17

Amendment of section 160D

Section 160D of the Companies Act is amended —

(a)

by deleting the words “except where the context otherwise requires,” in subsection (1)(b);

(b)

by deleting the comma at the end of subsection (1)(d) and substituting a full-stop;

(c)

by deleting the words “unless that person is also a director of the company.” at the end of subsection (1);

(d)

by inserting, immediately after subsection (2), the following subsection:“(2A) For the purposes of subsection (1), a holding company shall not be deemed to be a person connected with a director of that holding company by reason only of the interest which the director may have or be deemed to have in the equity share capital of the holding company.”; and

(e)

by deleting the words “subsection (2)” in subsection (5) and substituting the words “subsections (2) and (2A) and section 160B”.

Read in full context — Companies (Amendment) Bill →