Singapore legislation
Regulation 2
Regulation 2
Exemption
Subregulation 1
The Minister hereby exempts any body corporate which is or becomes a substantial shareholder of ING Asia Private Bank Limited from section 15A(1) of the Act —
(a)
by virtue of section 7(4A)(b) of the Companies Act (Cap. 50); and
(b)
by reason only that the body corporate is a subsidiary of another body corporate —
(i)
which is a substantial shareholder of ING Asia Private Bank Limited other than by virtue of section 7(4A) of the Companies Act; or
(ii)
which is entitled to exercise or control the exercise of not less than 20% of the votes attached to the voting shares of a substantial shareholder of ING Asia Private Bank Limited.
Subregulation 2
[Deleted by S 69/2010 wef 10/02/2010]