Singapore legislation

Clause 9

of Companies (Amendment) Bill

Clause 9

Amendment of section 22

Section 22 of the Companies Act is amended —

(a)

by deleting the words “printed and divided into numbered paragraphs and” in the 2nd line of subsection (1); (b)by deleting subsection (2) and substituting the following subsection:“(2) Each subscriber to the memorandum shall, if the company is to have a share capital, make a declaration to the Registrar, either by himself or through a prescribed person authorised by him, as to the number of shares (not being less than one) that he agrees to take.”; and

(c)

by inserting, immediately after subsection (3), the following subsection:“(4) A copy of the memorandum, duly signed by the subscribers and stating, if the company is to have a share capital, the number of shares that each subscriber has agreed to take, shall be kept at the registered office of the company.”.