Singapore legislation
Clause 72
Clause 72
Duty to provide information
(1)
Section 173A of the Companies Act applies in relation to a VCC as it applies in relation to a company, subject to section 5 and the following modifications:
a reference in section 173A of the Companies Act to a chief executive officer is to a manager of the VCC;
a reference in section 173A of the Companies Act to the register of chief executive officers in section 173(5) of that Act is to the register of managers;
a reference in section 173A(1) of the Companies Act to information required under section 173(5) of that Act is to information required under section 71(4).
(2)
Section 173B of the Companies Act applies to a director, a manager, a secretary and an auditor of a VCC as it applies to a director, a chief executive officer, a secretary and an auditor of a company, subject to section 5 and the following modifications:
subsection (4) of section 173B of the Companies Act does not apply to a manager;
a reference in section 173B of the Companies Act to a chief executive officer, the register of chief executive officers, and information referred to in section 173(5) of that Act, are to the manager, the register of managers and information mentioned in section 71(4), respectively.
(3)
If a VCC fails to comply with section 173A(1) of the Companies Act as applied by subsection (1), the VCC and every officer of the VCC who is in default shall each be guilty of an offence and shall each be liable on conviction to a fine not exceeding $5,000, and also to a default penalty.
(4)
Subject to section 75(4) to (6), a person who fails to comply with section 173B of the Companies Act as applied by subsection (2) shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $5,000, and also to a default penalty.