Singapore legislation
Clause 4
Clause 4
Amendment of section 5
Section 5 of the Companies Act is amended —
(a)
by inserting the word “or” at the end of subsection (1)(a)(i);
(b)
by deleting sub‑paragraph (iii) of subsection (1)(a); and
(c)
by deleting subsection (5) and substituting the following subsection:“(5) For the purposes of this Act, the Depository shall not be regarded as a holding company of a corporation by reason only of the shares it holds in that corporation as a bare trustee.”.