Clause 33

by deleting the words “No person shall be” in subsections (1) and (4) and substituting in each case the words “An individual is not”;

by deleting the word “, if” in subsection (1);

by deleting paragraphs (a), (b) and (c) of subsection (1) and substituting the following paragraphs:“(a)if he is below —

12 years of age, in the case of a school co‑operative society; or

18 years of age, in any other case;

except with the Registrar’s written approval, if he is not —

a citizen of Singapore; or

subject to subsection (2), resident in Singapore;

if he is an undischarged bankrupt (whether he was adjudicated bankrupt by a Singapore court or a foreign court having jurisdiction in bankruptcy);”;

by inserting, immediately before the word “he” in subsection (1)(e) and (f), the word “if”;

by deleting paragraph (g) of subsection (1) and substituting the following paragraph:“(g)except with the Registrar’s written approval, if he has previously been removed by the Registrar from the committee of management of any society, or suspended by the Registrar, under section 94(1) or 94A(1).”;

by deleting the word “persons” in subsection (2) and substituting the word “individuals”;

by deleting the words “a person” in subsection (3) and substituting the words “an individual”;

by deleting the words “commencing from” in subsection (3)(a) and (b) and substituting in each case the words “starting on”;

by inserting, immediately after subsection (4), the following subsections:“(5) Where a society is required by the Rules to appoint a chief executive officer, a chief operating officer, a chief financial officer or a chief investment officer —

except with the Registrar’s written approval, an individual is not eligible to be, or to remain as, the chief executive officer, chief operating officer, chief financial officer or chief investment officer (as the case may be) for the society, if the individual does not satisfy the requirements under section 59B for that office; and

the society does not incur any liability for breach of contract by reason only of terminating the contract of service between the society and the individual on the ground that the individual is not eligible to be, or to remain as, the chief executive officer, chief operating officer, chief financial officer or chief investment officer (as the case may be) for the society.(6) Despite subsection (5), for a period of 3 years starting on the date of commencement of section 33(i) of the Co‑operative Societies (Amendment) Act 2018, that subsection does not apply —

to a chief executive officer, chief operating officer, chief financial officer or chief investment officer who —

is appointed before that date by a society; and

is holding that office immediately before that date; or

to a society the chief executive officer, chief operating officer, chief financial officer or chief investment officer of which —

is appointed before that date by the society; and

is holding that office immediately before that date.(7) Except with the Registrar’s written approval, an individual is not eligible to be re‑elected or co‑opted as a member of the committee of management of a credit society, if the individual fails to complete such training, or comply with such other requirements, as may be specified in the Rules within such time as may be specified in the Rules.”; and

by deleting the words “of credit society” in the section heading.