Singapore legislation
Clause 17
Clause 17
Amendment of section 156
Section 156 of the Companies Act is amended —
(a)
by deleting the word “contract” wherever it appears in subsections (1) to (4) and substituting in each case the word “transaction”;
(b)
by inserting, immediately after the word “director” in subsection (8), the words “and the words “member of a director’s family” shall include his spouse, son, adopted son, step-son, daughter, adopted daughter and step-daughter”; and
(c)
by deleting the word “contracts” in subsection (9) and in the marginal note and substituting in each case the word “transactions”.