Singapore legislation
Clause 8
Clause 8
Amendment of section 44
Section 44 of the principal Act is amended by inserting, immediately after subsection (4), the following subsection:“(5) Subsection (1) shall not apply to —
(a)
shares standing in the name of a deceased person in his securities account with the Central Depository (Pte) Limited where the aggregate market value of the shares, as at the date of his death, does not exceed $50,000; or
(b)
shares standing in the name of a deceased person in his CPF Investment Account under the Central Provident Fund Act (Cap. 36) where the aggregate market value of the shares, as at the date of his death, does not exceed $50,000.”.