Singapore legislation

Clause 121

of Variable Capital Companies Bill

Clause 121

Power to require information as to persons interested in shares or debentures

(1)

Where it appears to the Minister that —

(a)

there is good reason to investigate the ownership of any shares in or debentures of a VCC; and

(b)

it is unnecessary to appoint an inspector for the purpose,the Minister may require any person whom the Minister has reasonable cause to believe to have or to be able to obtain any information as to —

(c)

the present and past interests in those shares or debentures; and

(d)

the names and addresses of the persons interested and of any person who act or have acted on their behalf in relation to the shares or debentures,to give such information to the Minister.

(2)

Subject to section 5, section 244(2) to (7) of the Companies Act applies for the purposes of subsection (1) as it applies for the purposes of section 244(1) of that Act.

(3)

For the purposes of subsection (1) and the provisions of the Companies Act applied by subsection (2), a book-entry security is treated as an interest in a share.

Read in full context — Variable Capital Companies Bill →