Companies Act 1967 · 2020 Revised Edition · Part 5 · Management and Administration
163B. Exception for expenditure in connection with regulatory action or investigation
Last amended by an amending law of 2014.
Official textFrom Singapore Statutes Online, unchanged
Sections 162, 163 and 172 do not apply to anything done by a company —
company
“company” means a company incorporated under this Act or under any corresponding previous written law;
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 —
director
“director” includes any person occupying the position of director of a corporation by whatever name called and includes a person in accordance with whose directions or instructions the directors or the majority of the directors of a corporation are accustomed to act and an alternate or substitute director;
in an investigation by a regulatory authority; or
Authority
“Authority” means the Accounting and Corporate Regulatory Authority established under the Accounting and Corporate Regulatory Authority Act 2004;
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
to enable any such director to avoid incurring such expenditure.
Terms defined in s 4
Authority
Defined · s 4“Authority” means the Accounting and Corporate Regulatory Authority established under the Accounting and Corporate Regulatory Authority Act 2004;
company
Defined · s 4“company” means a company incorporated under this Act or under any corresponding previous written law;
director
Defined · s 4“director” includes any person occupying the position of director of a corporation by whatever name called and includes a person in accordance with whose directions or instructions the directors or the majority of the directors of a corporation are accustomed to act and an alternate or substitute director;
Part 6
Financial Statements and Audit
Part 7
Arrangements, Reconstructions and Amalgamations
Part 8
Part 8A
Part 9
Investigations
Part 10
Dissolution
Part 10A
Transfer of Registration
Part 11
Various Types of Companies, Etc.
Part 11A
Register of Controllers, Nominee Directors and Nominee Shareholders of Companies
Part 12