Singapore legislation
Clause 24
Clause 24
Amendment of section 37C
Section 37C of the principal Act is amended —
by deleting the words “ordinary share capital” in subsections (3)(a) and (b) and (4) and substituting in each case the words “total number of issued ordinary shares”;
by deleting the word “is” in subsection (3)(a) and (b) and substituting in each case the word “are”;
by deleting the words “share capital” in the 2nd, 4th and 9th lines of subsection (5) and substituting in each case the words “total number of issued ordinary shares”;
by deleting the words “share capital” in the 6th and 11th lines of subsection (5) and substituting in each case the words “number of issued ordinary shares”;
by inserting, immediately after the words “such fraction” in the 7th and penultimate lines of subsection (5), the words “of the total number”;
by deleting the words “or (6)” in subsection (14)(c);
by inserting, immediately after the words “other than” in the definition of “ordinary share” in subsection (19), the words “a treasury share or”;
by deleting the word “nominal” in paragraph (a) of the definition of “ordinary share” in subsection (19);
by deleting the definition of “ordinary share capital” in subsection (19); and
by deleting the word “nominal” in paragraph (a) of the definition of “residual profits” in subsection (19).