23.—(1) Sections 162, 163 and 197 of the Companies Act (Cap. 50) shall apply to a licensed corporation which is an exempt private company subject to the modification that any reference in those sections to an exempt private company shall not include a reference to the licensed corporation.
[Act 36 of 2014 wef 03/01/2016]
(2) Every licensed corporation referred to in subsection (1) shall —
(a)
comply with the prohibitions in sections 162 and 163 of the Companies Act as if it were not an exempt private company; and
[Act 36 of 2014 wef 03/01/2016]
(b)
forward annually to the Registrar of Companies, together with the annual return required by section 197 of the Companies Act, such copies of documents as are required to be included in the annual return and such certificates and particulars in accordance with the prescribed form referred to in section 197(2) of that Act as if it were not an exempt private company.
[12/2002 wef 13/01/2003]
(3) In this section, “exempt private company” has the same meaning as in the Companies Act.