Singapore legislation
Section 163B
Section 163B
Exception for expenditure in connection with regulatory action or investigation
Amended by36/2014
Sections 162, 163 and 172 do not apply to anything done by a company —
(a)
to provide a director of the company with funds by way of any loan to meet expenditure incurred or to be incurred by the director in defending himself or herself —
(i)
in an investigation by a regulatory authority; or
(ii)
against any action proposed to be taken by a regulatory authority,in connection with any alleged negligence, default, breach of duty or breach of trust by the director in relation to the company; or
(b)
to enable any such director to avoid incurring such expenditure.