Singapore legislation

Clause 119

of Securities and Futures (Amendment) Bill

Clause 119

Consequential amendments to Companies Act

The Companies Act (Cap. 50) is amended —

(a)

by deleting paragraph (a) of section 79(2);

(b)

by repealing section 92;

(c)

by inserting, immediately after the words “section 165(1)(a)” in section 164(5), the words “of this Act or section 133(1)(a), (b), (c), (d) or (e) of the Securities and Futures Act (Cap. 289)”;

(d)

by inserting, immediately after the words “section 165(1)(b)” in section 164(6), the words “of this Act or section 133(1)(g) (in respect of a change in the particulars of any matter referred to in section 133(1)(a) to (e)) of the Securities and Futures Act”;

(e)

by inserting, immediately after the words “section 165” in section 164(12), the words “of this Act or (as the case may be) section 133 of the Securities and Futures Act (Cap. 289)”;

(f)

by inserting, immediately after subsection (9) of section 165, the following subsection:“(10) Subsection (1)(a) and (b) shall not apply to a person —

(a)

who is a director of a company all or any of the shares of which are listed for quotation on the official list of a securities exchange as defined in the Securities and Futures Act; and

(b)

who is required to make disclosure of the matters referred to in subsection (1)(a) and (b) of this section under section 133 of that Act.”; and

(g)

by repealing section 166.