Singapore legislation
Clause 27
Clause 27
Amendment of section 400
Section 400 of the Companies Act is amended —
(a)
by deleting subsection (2) and substituting the following subsection:“(2) The Minister may, by order published in the Gazette, exempt —
(a)
any person or class of persons; or
(b)
any class or description of shares,from compliance with subsection (1), subject to such conditions as may be specified in the order.”; and (b)by deleting “$1,000” in the 4th line and “$5,000” in the 6th line of subsection (5) and substituting “$10,000” and “$20,000”, respectively.