Singapore legislation

Clause 4

of Statutes (Miscellaneous Amendments) (No. 2) Bill

Clause 4

Amendment of Building Control Act

Section 2 of the Building Control Act (Cap. 29, 1999 Ed.) is amended by inserting, immediately after subsection (4), the following subsection:“(4A) For the purposes of subsection (4)(b) and (c)(i) —

(a)

section 7(5) of the Companies Act (Cap. 50) shall not apply with respect to the determination of whether a person is a substantial shareholder as defined in section 81 of that Act; and

(b)

in applying section 7(4A) of the Companies Act to determine whether a person is a substantial shareholder as defined in section 81 of that Act, a person is an associate of another person if the first-mentioned person is —

(i)

a corporation that, by virtue of section 6 of that Act, is deemed to be related to that other person;

(ii)

a person in accordance with whose directions, instructions or wishes that other person is accustomed or is under an obligation whether formal or informal to act in relation to the share referred to in section 7(4) of that Act;

(iii)

a person who is accustomed or is under an obligation whether formal or informal to act in accordance with the directions, instructions or wishes of that other person in relation to that share;

(iv)

a body corporate that is, or a majority of the directors of which are, accustomed or under an obligation whether formal or informal to act in accordance with the directions, instructions or wishes of that other person in relation to that share; or

(v)

a body corporate in accordance with the directions, instructions or wishes of which, or of a majority of the directors of which, that other person is under an obligation whether formal or informal to act in relation to that share.”.

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