Clause 58
Amendment to memorandum and articles of association of Agency
of Deposit Insurance and Policy Owners’ Protection Schemes Bill
BillNot in forceProvision 15 of 101
Clause 58
(1)
Notwithstanding any provision in the Companies Act (Cap. 50), the Agency shall not amend the memorandum and articles of association of the Agency without the prior approval of the Minister.
(2)
Any amendment made to the memorandum and articles of association of the Agency without the prior approval of the Minister shall be void.