Singapore legislation
Clause 70
Clause 70
Officer liability, insurance and third party indemnity
Sections 172, 172A and 172B 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)
the reference in section 172B(4) of the Companies Act to section 76A(13) of that Act is omitted;
(b)
the reference in section 172B(1)(b)(ii) of the Companies Act to a related company is to a company that is a related corporation of the VCC.