Clause 46

by deleting subsection (1) and substituting the following subsection:“(1) Every listed company shall have an audit committee.”;

by deleting the words “not fewer than 3” in subsection (2) and substituting the words “3 or more”; and

by deleting subsection (10) and substituting the following subsections:“(10) In this section, “listed company” means a company that is incorporated in Singapore and has been admitted to the official list of a securities exchange in Singapore and has not been removed from the official list.(11) Any reference in this section to a director who is not an executive director of a company is a reference to a director who is not an employee of, and does not hold any other office of profit in, the company or in any related corporation of that company in conjunction with his office of director and his membership of any audit committee, and any reference to an executive director shall be read accordingly.”.