Singapore legislation

Clause 324

Not to hold shares in other investment companies

No investment company shall purchase or after the expiration of three years after it is declared to be an investment company hold any shares in or debentures of —

(a)

any other investment company; or

(b)

any corporation incorporated outside Singapore which is engaged primarily in the making of investments in marketable securities for the purpose of revenue and for profit and not for the purpose of exercising control and which is specified by proclamation of the President.[Aust. s. 339.]

Read in full context — Companies Bill →