Singapore legislation
Clause 68
Clause 68
Payments to director for loss of office, and director’s emoluments
Sections 168 and 169 of the Companies Act apply in relation to a VCC as they apply in relation to a company, subject to section 5 and the following modifications:
(a)
a reference in section 168(1B)(a) and (7) of the Companies Act to a corporation which is by virtue of section 6 of that Act deemed to be related to the company is to a related corporation of the VCC;
(b)
section 168(5)(a) of the Companies Act is omitted;
(c)
the reference in section 168(2) of the Companies Act to any requirement of the Take‑over Code mentioned in section 139 of the Securities and Futures Act is omitted.