Singapore legislation

Clause 69

of Securities and Futures (Amendment No. 2) Bill

Clause 69

Amendment of section 268

Section 268 of the principal Act is amended —

(a)

by deleting the words “borrowing corporation” wherever they appear in subsections (1), (2), (4), (6) and (9) to (12) and the section heading and substituting in each case the words “borrowing entity”;

(b)

by deleting the words “the corporation” wherever they appear in subsections (2)(a), (4)(a), (6)(a) and (b) and (13) and substituting in each case the words “the entity”;

(c)

by deleting the words “to the public” in subsection (2)(e);

(d)

by deleting the words “that corporation” in subsection (13) and substituting the words “that entity”;

(e)

by deleting the words “guarantor corporation” wherever they appear in subsections (4)(a), (6), (9)(b), (10), (11) and (12) and substituting in each case the words “guarantor entity”;

(f)

by deleting the words “guarantor corporations” wherever they appear in subsections (2)(b), (d) and (e) and (4) and substituting in each case the words “guarantor entities”;

(g)

by inserting, immediately after the word “directors” wherever it appears in subsections (1), (2), (6), (9)(a) and (b), (11), (12) and (13), the words “or equivalent persons”; and

(h)

by deleting subsection (14).