Singapore legislation

Clause 92

of Companies (Amendment) Bill

Clause 92

Amendment of section 176

Section 176 of the Companies Act is amended —

(a)

by deleting subsection (1) and substituting the following subsection:“(1) The directors of a company, notwithstanding anything in its constitution, shall, on the requisition of members holding at the date of the deposit of the requisition not less than 10% of the total number of paid‑up shares as at the date of the deposit carries the right of voting at general meetings or, in the case of a company not having a share capital, of members representing not less than 10% of the total voting rights of all members having at that date a right to vote at general meetings, immediately proceed duly to convene an extraordinary general meeting of the company to be held as soon as practicable but in any case not later than 2 months after the receipt by the company of the requisition.”; and

(b)

by deleting the words “paid‑up capital” in subsection (1A) and substituting the words “paid‑up shares”.