Singapore legislation

Clause 36

of Companies (Amendment) Bill

Clause 36

Amendment of section 163

Section 163 of the Companies Act is amended —

(a)

by deleting the words “shares in the other company of a nominal value equal to 20% or more of the nominal value of its equity share capital” in the 9th, penultimate and last lines of subsection (1) and substituting the words “20% or more of the total number of equity shares in the other company (excluding treasury shares)”; and

(b)

by deleting paragraph (a) of subsection (2) and substituting the following paragraph:“(a)is or together are interested in 20% or more of the total number of equity shares in the other company (excluding treasury shares); or”.