Singapore legislation

Clause 55

Amendment of Fourth Schedule

The Fourth Schedule to the Companies Act is amended —

(a)

by deleting the words “(whether on account of the nominal value of the shares or by way of premium)” in the 2nd and 3rd lines of regulation 13;

(b)

by deleting the words “exceed 25% of the nominal value of the share or” in the 5th and 6th lines of regulation 13;

(c)

by deleting the words “, whether on account of the nominal value of the share or by way of premium,” in regulations 17 and 35;

(d)

by deleting the words “, but the minimum shall not exceed the nominal amount of the shares from which the stock arose” in regulation 37;

(e)

by deleting the words “, any capital redemption reserve fund or any share premium account” in regulation 42; and

(f)

by deleting the words “A share premium account and a capital redemption reserve may, for the purposes of this regulation, be applied only in the paying up of unissued shares to be issued to members of the company as fully paid bonus shares.” in the 14th to 18th lines of regulation 106.

Read in full context — Companies (Amendment) Bill →