Singapore legislation
Clause 14
Clause 14
Amendment of section 33
Section 33 of the principal Act is amended by deleting subsection (4) and substituting the following subsection:“(4) The Authority may direct an exchange holding company to remove an officer from its office or employment under subsection (1) on any of the following grounds without giving the exchange holding company an opportunity to be heard:
(a)
the officer is an undischarged bankrupt, whether in Singapore or elsewhere;
(b)
the officer has been convicted, whether in Singapore or elsewhere, of an offence —
(i)
involving fraud or dishonesty or the conviction for which involved a finding that he had acted fraudulently or dishonestly; and
(ii)
punishable with imprisonment for a term of 3 months or more.”.