Singapore legislation

Clause 2

of National Science and Technology Board (Amendment) Bill

Clause 2

Amendment of section 2

Section 2 of the National Science and Technology Board Act (referred to in this Act as the principal Act) is amended —

(a)

by inserting, immediately after the definition of “Board”, the following definition:“ “commercial application”, in relation to any knowledge or technology, means the application, utilization or exploitation of such knowledge or technology in the manufacture, production, sale, distribution or provision of goods or services in the course of any trade, business, enterprise or profession, and includes any business or commercial activity that is necessary for or related to the promotion, development or growth of any such trade, business, enterprise or profession;”;

(b)

by inserting, immediately after the definition of “Council”, the following definition:“ “financial assistance” includes assistance by way of grant, loan, loan guarantee, the purchase or guarantee of bonds, debentures, notes or other debt obligations or the purchase or acquisition of any stock, shares or other equity securities;”; and

(c)

by deleting the words “and the Deputy Chairman” in the definition of “member”.

Read in full context — National Science and Technology Board (Amendment) Bill →