Singapore legislation
Clause 23
Clause 23
Amendment of section 254
Section 254 of the Companies Act is amended by inserting, immediately after subsection (2), the following subsections:“(3) For the purpose of subsection (1)(m), a certificate issued by the Minister charged with the responsibility for internal security stating that he is satisfied that the company referred to in the certificate is being used for purposes against national security or interest shall be conclusive evidence that the company is being used for such purposes.(4) Upon the presentation of a petition by the Minister under section 253(1)(h) for the winding up of a company under subsection (1)(m) on the ground that it is being used for purposes against national security or interest, the Court, upon the application of the Minister, may, pending the hearing of the petition or the making of a winding up order, make —
an order restraining the company or its directors, manager, officers or employees from doing any act or from carrying out any activity as may be specified in the order; and
such other interim orders as the Court thinks fit.(5) Any person who acts in contravention of an order made by the Court under subsection (4) shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $10,000 or to imprisonment for a term not exceeding 2 years or to both.”.