Singapore legislation
Regulation 5
of Postal Services (Control of Designated Postal Licensees) Regulations 2012
Regulation 5
Meaning of “voting power”
Subregulation 1
For the purposes of Part IVA of the Act and these Regulations, a reference therein to control of a percentage of the voting power in a corporation shall be a reference to control that is direct or indirect, including control that is exercisable as a result of or by means of arrangements or practices —
whether or not having legal or equitable force; and
whether or not based on legal or equitable rights,of that percentage of the total number of votes that may be cast in a general meeting of the corporation.
Subregulation 2
Where a corporation is limited both by shares and by guarantee or does not have a share capital, this regulation shall have effect as if the members or policy holders of the corporation were shareholders in the corporation.