Singapore legislation
Clause 9
of Companies, Business Trusts and Other Bodies (Miscellaneous Amendments) Bill
Clause 9
Amendment of section 204
In the Companies Act, in section 204 —
in subsection (1), replace “section 201(2), (5) or (16)” with “section 201(2) or (5)”;
in subsection (1), replace “$50,000” with “$250,000”;
after subsection (1), insert —“(1AA) If any director of a company fails to comply with section 201(16), he or she shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $50,000.”;
in subsection (3)(a), replace “$100,000” with “$250,000”;
in subsection (3)(a), delete “or” at the end; and
in subsection (3), after paragraph (a), insert —“(aa)in the case of an offence under subsection (1AA), to a fine not exceeding $100,000 or to imprisonment for a term not exceeding 3 years or to both; or”.