Regulation 1
Citation and commencement
This Order may be cited as the Co-operative Societies (Exemption under Section 97) (No. 5) Order 2010 and shall come into operation on 2nd July 2010.
/akn/sg/act/sub_leg/1979/CSA-S369-2010
Co-operative Societies (Exemption under Section 97) (No. 5) Order 2010
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- Type
- Subsidiary Legislation
- Status
- In force
- Enacted
- 1979
- Sections
- 3
Quick answer
About this subsidiary legislation
Co-operative Societies (Exemption under Section 97) (No. 5) Order 2010 is Singapore Subsidiary Legislation, cited as Subsidiary Legislation CSA-S369-2010 1979, currently marked in force and first recorded in 1979.
Regulation 2
Definitions
In this Order —“associated company”, in relation to a society, means a company (other than a joint venture company or subsidiary company) over which the society has significant influence;“company” has the same meaning as in section 4(1) of the Companies Act (Cap. 50);“joint venture company”, in relation to a society, means a company (other than a subsidiary company) —
(a)
the issued share capital in which the society has an interest; and
(b)
which is formed between the society and one or more parties for the purpose of jointly undertaking an economic activity;“significant influence”, in relation to a company, means the power to participate in the financial and operating policy decisions of the company, but does not include control or joint control over such policy decisions;“subsidiary company”, in relation to a society, means a company which is controlled by the society.
Definition
“associated company”, in relation to a society, means a company (other than a joint venture company or subsidiary company) over which the society has significant influence;
Definition
“company” has the same meaning as in section 4(1) of the Companies Act (Cap. 50);
Definition
“joint venture company”, in relation to a society, means a company (other than a subsidiary company) —
(a)
the issued share capital in which the society has an interest; and
(b)
which is formed between the society and one or more parties for the purpose of jointly undertaking an economic activity;
Definition
“significant influence”, in relation to a company, means the power to participate in the financial and operating policy decisions of the company, but does not include control or joint control over such policy decisions;
Definition
“subsidiary company”, in relation to a society, means a company which is controlled by the society.
Regulation 3
Exemption
Subregulation 1
Subject to sub-paragraph (2), the following societies are exempted from section 16A of the Act:
(a)
NTUC Eldercare Co-operative Limited;
(b)
NTUC Fairprice Co-operative Limited;
(c)
NTUC First Campus Co-operative Limited;
(d)
NTUC Foodfare Co-operative Limited;
(e)
NTUC Healthcare Co-operative Limited;
(f)
NTUC Investment Co-operative Limited;
(g)
NTUC Media Co-operative Limited;
(h)
NTUC Choice Homes Co-operative Limited;
(i)
NTUC Income Insurance Co-operative Limited.
Subregulation 2
No society referred to in sub-paragraph (1) shall provide any financial service other than the granting of loans to any associated company, joint venture company or subsidiary company of the society.
Common questions
- What is Co-operative Societies (Exemption under Section 97) (No. 5) Order 2010?
- Co-operative Societies (Exemption under Section 97) (No. 5) Order 2010 is Singapore Subsidiary Legislation, cited as Subsidiary Legislation CSA-S369-2010 1979, currently marked in force and first recorded in 1979.
- Is Co-operative Societies (Exemption under Section 97) (No. 5) Order 2010 still in force?
- Yes — Co-operative Societies (Exemption under Section 97) (No. 5) Order 2010 is currently in force.
- When did Co-operative Societies (Exemption under Section 97) (No. 5) Order 2010 take effect?
- Co-operative Societies (Exemption under Section 97) (No. 5) Order 2010 was first recorded in 1979.
- How many regulations does Co-operative Societies (Exemption under Section 97) (No. 5) Order 2010 have?
- Co-operative Societies (Exemption under Section 97) (No. 5) Order 2010 contains 3 regulations.
- Where can I read the official version of Co-operative Societies (Exemption under Section 97) (No. 5) Order 2010?
- The official text of Co-operative Societies (Exemption under Section 97) (No. 5) Order 2010 is published at sso.agc.gov.sg.