Singapore legislation

Clause 147

of Corporate and Accounting Laws (Amendment) Bill

Clause 147

Amendment of section 100

In the VCC Act, in section 100 —

(a)

in subsection (9), replace “other accounting standards for the Accounting Standards applicable to those VCCs” with “the whole or any part of other accounting standards specified in the order for the whole or any part of the Accounting Standards, as specified in the order”; and

(b)

after subsection (9), insert —“(10) The Minister may, by order in the Gazette, exempt the directors of any VCC that belongs to a specified class or description of VCCs, from having to ensure that the VCC’s financial statements or consolidated financial statements comply with all or any of the requirements of the Accounting Standards specified in the order.”.

Read in full context — Corporate and Accounting Laws (Amendment) Bill →