Singapore legislation

Clause 23

Change in composition of board of directors, members or shareholders

(1)

Any licensed corporation shall, within 30 days of the occurrence of —

(a)

any alteration of its memorandum or articles of association to remove the restrictions, limitations or prohibitions of the kind specified in section 21(1), (2) or (4), whichever is applicable; or

(b)

any change in the composition of its board of directors, members or shareholders,furnish the Board a true report in writing giving full particulars of the alteration or change.

(2)

Any licensed partnership shall, within 30 days of the occurrence of any change in the composition of its members, furnish the Board a true report in writing giving full particulars of the change.

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