Singapore legislation

Clause 22

Repeal and re-enactment of section 130B

Section 130B of the Companies Act is repealed and the following section substituted therefor:“Application of this Division130B.—

(1)

This Division shall apply only to —

(a)

book-entry securities; and (b)designated securities, as if a reference to “book-entry securities” includes a reference to designated securities.(2) The application of this Division to designated securities under subsection (1)(b) shall be subject to such modifications as the Minister may by order prescribe, and different modifications may be prescribed for different classes of designated securities.(3) In this section, “designated securities” means such securities as may be accepted or designated by the Depository or its nominee for deposit, custody, clearing or book-entry settlement.”.

Read in full context — Companies (Amendment) Bill →