Singapore legislation
Clause 43
Clause 43
Amendment of section 190
Section 190 of the Companies Act is amended by inserting, immediately after subsection (2), the following subsection:“(2A) Where a company purchases one or more of its own shares or stocks in circumstances in which section 76H applies —
(a)
the requirements of subsections (1)(a), (b) and (c) and (2) shall be complied with unless the company cancels all of the shares or stocks immediately after the purchase in accordance with section 76K(1); but(b)any share or stock which is so cancelled shall be disregarded for the purposes of subsections (1)(a) and (2).”.