Singapore legislation

Schedule 15

of Companies (Amendment) Bill

Schedule 15

Foreign companies to which Part XIAdoes not apply

FIFTEENTH SCHEDULESections 8(7), 386AA(1) and 386AC(c)Foreign companies to which Part XIAdoes not apply

1. Part XIA does not apply to any of the following foreign companies:

(a)

a foreign company that is a Singapore financial institution;

(b)

a foreign company that is a wholly‑owned subsidiary of a foreign company that is a Singapore financial institution;

(c)

a foreign company which shares are listed on a securities exchange in a country or territory outside Singapore and which is subject to —

(i)

regulatory disclosure requirements; and

(ii)

requirements relating to adequate transparency in respect of its beneficial owners,imposed through stock exchange rules, law or other enforceable means.

2. In paragraph 1, “Singapore financial institution” has the meaning given to it in paragraph 2 of the Fourteenth Schedule.

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