Singapore legislation
Clause 321
Clause 321
Restriction on investments of investment companies
(1)
An investment company shall not invest an amount in a corporation if that amount, or the sum of that amount and amounts previously invested by it in that corporation and still so invested exceeds an amount equivalent to ten per centum of the net tangible assets of the investment company.[Aust. s. 336.]
(2)
An investment company shall not invest an amount in the ordinary shares of a corporation if that amount, or the sum of that amount and amounts previously invested by it in the ordinary shares of that corporation and still so invested exceeds an amount equivalent to five per centum of the subscribed ordinary share capital of the corporation.