Singapore legislation
Clause 48
Clause 48
Amendment of section 215
Section 215 of the Companies Act is amended —
(a)
by deleting the words “90% in nominal value of those shares” in the 9th and 10th lines of subsection (1) and substituting the words “90% of the total number of those shares (excluding treasury shares)”;
(b)
by inserting, immediately after the words “other than shares already held at the date of the offer by the transferee company” in the 10th and 11th lines of subsection (1), the words “, and excluding any shares in the company held as treasury shares”; and
(c)
by deleting the words “90% in nominal value of the shares” in subsection (3) and substituting the words “90% of the total number of the shares (excluding treasury shares)”.