In forceAmended2020 Revised EditionCurrent version · 2020 Revised EditionSee versions on Singapore Statutes Online(opens the publisher’s site)
10. Proceeds from sale of shares
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Last amended by an amending law of 2022.
(1)
The Authority is authorised to utilise the proceeds raised in connection with the sale of the transferee holding company’s shares made under section 8(2) to meet the expenses and fees associated with the demutualisation and merger of SES, SIMEX and SCCS, the formation of the transferee holding company and the special purpose company and the offer and sale of the transferee holding company’s shares.
(2)
The remainder of the proceeds mentioned in subsection (1) must be paid by the special purpose company into the Financial Sector Development Fund.
special purpose company
Defined · s 2
“special purpose company” means a company incorporated in Singapore and designated by the Minister under section 3(2)(b);