Clause 13

by deleting the word “ordinary” in subsection (1);

by deleting subsection (2) and substituting the following subsection:“(2) This section and sections 76C to 76G shall apply to ordinary shares, stocks and preference shares.”; and

by deleting subsection (3) and substituting the following subsections:“(3) The total number of ordinary shares and stocks that may be purchased or acquired by a company during the relevant period shall not exceed 10% (or such other percentage as the Minister may by notification prescribe) of the issued ordinary share capital of the company ascertained —

as at the date of the last annual general meeting of the company held before any resolution passed pursuant to section 76C, 76D or 76E; or

as at the date of such resolution,whichever is the higher, unless the Court has, at any time during the relevant period, made an order under section 73(4) confirming the reduction of share capital of the company.(3A) Where the Court has made an order under section 73(4), the issued ordinary share capital of the company shall, notwithstanding subsection (3)(a) and (b), be taken to be the amount of the issued ordinary share capital as altered by the order of the Court.(3B) The total number of preference shares which are not redeemable under section 70 that may be purchased or acquired by a company during the relevant period shall not exceed 10% (or such other percentage as the Minister may by notification prescribe) of the issued non-redeemable preference share capital of the company ascertained —

as at the date of the last annual general meeting of the company held before any resolution passed pursuant to section 76C, 76D or 76E; or

as at the date of such resolution,whichever is the higher, unless the Court has, at any time during the relevant period, made an order under section 73(4) confirming the reduction of share capital of the company.(3C) Where the Court has made an order under section 73(4), the issued non-redeemable preference share capital of the company shall, notwithstanding subsection (3B)(a) and (b), be taken to be the amount of the issued non-redeemable preference share capital as altered by the order of the Court.(3D) There shall be no limit on the number of redeemable preference shares that may be purchased or acquired by a company during the relevant period.”.