Singapore legislation
Clause 27
Clause 27
Repeal and re-enactment of section 43
Section 43 of the principal Act is repealed and the following section substituted therefor:“Restriction on shareholding43.—
(1)
Except as provided in subsection (2), a member cannot hold more than 20% of the share capital of a society.(2) A member may hold more than 20% of the share capital of a society, if the Registrar grants written approval for that society to issue more than 20% of its share capital to that member.(3) This section does not apply to a member that is a society or a trade union.”.