Singapore legislation
Clause 55
of Variable Capital Companies (Miscellaneous Amendments) Bill
Clause 55
Amendment of section 152
Section 152 of the principal Act is amended by deleting subsection (2) and substituting the following subsection:“(2) The reference in section 390(3) of the Companies Act to section 197 of the IRDA is to —
(a)
in the case of shares that relate to a sub‑fund of an umbrella VCC — section 197 of the IRDA as applied by section 33; and
(b)
in the case of any other shares — section 197 of the IRDA as applied by section 130.”.