Singapore legislation

Clause 40

of Co-operative Societies (Amendment) Bill

Clause 40

Amendment of section 69

Section 69 of the principal Act is amended —

(a)

by inserting, immediately after subsection (1), the following subsection:“(1A) Despite subsection (1), a credit society must invest or deposit its funds in accordance with any restrictions on investment contained in written directions issued by the Registrar.”; and

(b)

by inserting, immediately after the words “subsection (1)” in subsection (2), the words “or (1A)”.

Read in full context — Co-operative Societies (Amendment) Bill →