Singapore legislation
Clause 12
Clause 12
Amendment of section 33
Section 33 of the Companies Act is amended —
(a)
by deleting the words “5% in nominal value of the company’s issued share capital or any class of that capital” in subsection (5)(a) and substituting the words “5% of the total number of issued shares of the company or any class of those shares”; and
(b)
by inserting, immediately after subsection (5), the following subsection:“(5A) For the purposes of subsection (5), any of the company’s issued share capital held as treasury shares shall be disregarded.”.