Singapore legislation
Clause 28
of Companies, Business Trusts and Other Bodies (Miscellaneous Amendments) Bill
Clause 28
Saving and transitional provision in respect of amendments to Companies Act 1967
(1)
Subject to this section, the repealed provision continues to apply to a person who, immediately before the appointed day, was disqualified under the repealed provision from acting as director of, or in any way (whether directly or indirectly) taking part in or being concerned in the management of, any company or any foreign company to which Division 2 of Part 11 of the Companies Act 1967 applies as if the repealed provision had not been replaced under section 5(a), and section 155A(2) to (4) of the Companies Act 1967 as in force immediately before the appointed day applies accordingly.
(2)
The period of disqualification —
in the case of a previous first-time offender whose disqualification under the repealed provision commenced 3 years before the appointed day or more, but has not ended under the repealed provision before the appointed day, ends on the appointed day; or
in the case of a previous first-time offender whose disqualification under the repealed provision commenced less than 3 years before the appointed day, ends 3 years after the date on which the disqualification commenced under the repealed provision.
(3)
A previous first-time offender mentioned in subsection (2)(b) whose disqualification under the repealed provision has not ended may apply for permission to act as director of, or to take part in or be concerned in the management of, a company or a foreign company to which Division 2 of Part 11 of the Companies Act 1967 applies under section 155A(3), read with section 155A(3A), (3B), (3C) and (4), as in force on the appointed day.
(4)
In this section —
Definition
“appointed day” means the date of commencement of section 5;
Definition
“disqualification”, in respect of a previous first-time offender, means the prohibition under the repealed provision against a person acting as director of, or in any way (whether directly or indirectly) taking part in or being concerned in the management of, any company or any foreign company to which Division 2 of Part 11 of the Companies Act 1967 applies;
Definition
“previous first-time offender” means a person who has been disqualified from acting as director of, or in any way (whether directly or indirectly) taking part in or being concerned in the management of, any company or any foreign company to which Division 2 of Part 11 of the Companies Act 1967 applies under the repealed provision but only once;
Definition
“repealed provision” means section 155A(1) of the Companies Act 1967 as in force immediately before the appointed day.