Clause 24

The Companies Act is amended by inserting, immediately before section 227A in Part VIIIA, the following section:“Interpretation of this Part227AA. In this Part —“chattels leasing agreement” means an agreement for the bailment of goods that are capable of subsisting for more than 3 months;“company” means any corporation liable to be wound up under this Act;“hire‑purchase agreement” has the same meaning as in section 2 of the Hire‑Purchase Act (Cap. 125);“property”, in relation to a company, includes money, goods, things in action and every description of property, whether real or personal, and whether in Singapore or elsewhere, and also obligations and every description of interest whether present or future or vested or contingent arising out of, or incidental to, property;“retention of title agreement” means an agreement for the sale of goods to a company, being an agreement —