Comparison View

Formal Consolidation |  2006 RevEd
Disqualification to act as director on conviction of certain offences
154.—(1)  Where a person is convicted (whether in Singapore or elsewhere) of any offence involving fraud or dishonesty punishable with imprisonment for 3 months or more, he shall be subject to the disqualifications provided in subsection (3).
[22/93]
(2)  Where a person is convicted in Singapore of —
(a)any offence in connection with the formation or management of a corporation; or
(b)any offence under section 157 or 339,
the court may make a disqualification order in addition to any other sentence imposed.
(3)  A person who is disqualified under subsection (1) or who has had a disqualification order made against him under subsection (2) shall not act as a director of a company or of a foreign company to which Division 2 of Part XI applies nor shall he take part, whether directly or indirectly, in the management of such a company or foreign company.
(4)  (a)  Where a disqualified person has not been sentenced to imprisonment, the disqualifications in subsection (3) shall take effect upon conviction and shall continue for a period of 5 years or for such shorter period as the court may order under subsection (2).
(b)Where a disqualified person is sentenced to imprisonment, the disqualifications in subsection (3) shall take effect upon conviction and shall continue for a period of 5 years after his release from prison.
(5)  A person who acts in contravention of a disqualification under this section shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $10,000 or to imprisonment for a term not exceeding 2 years or to both.
(6)  An application for leave to act as a director of a company or of a foreign company to which Division 2 of Part XI applies or to take part whether directly or indirectly, in the management of such a company or foreign company may be made by a person against whom a disqualification order has been made upon that person giving the Minister not less than 14 days’ notice of his intention to apply for such leave.
(7)  On the hearing of any application under this section, the Minister may be represented at the hearing and may oppose the granting of the application.
(8)  Without prejudice to section 409, a District Court may make a disqualification order under this section.
(9)  Any right to apply for leave of the Court to be a director or promoter or to be concerned or take part in the management of a company that was subsisting immediately before 12th November 1993 shall on or after that date be treated as subsisting by virtue of the corresponding provision made under this section.
[UK, 1948, s. 188; Aust. 1961, s. 122]
Informal Consolidation | Amended S 383/2015
Disqualification to act as director on conviction of certain offences
154.—(1)  A person shall be subject to the disqualifications provided in subsection (3) if —
(a)the person is convicted of any of the following offences:
(i)any offence, whether in Singapore or elsewhere, involving fraud or dishonesty punishable with imprisonment for 3 months or more;
(ii)any offence under Part XII of the Securities and Futures Act (Cap. 289) , where the conviction was on or after 1 July 2015; or
[Act 15 of 2017 wef 31/03/2017]
(b)the person is subject to the imposition of a civil penalty under section 232 of the Securities and Futures Act on or after 1 July 2015.
[Act 36 of 2014 wef 01/07/2015]
[Act 15 of 2017 wef 31/03/2017]
(2)  Where a person is convicted in Singapore of —
(a)any offence in connection with the formation or management of a corporation; or
(b)any offence under section 157 or 339,
the court may make a disqualification order against the person in addition to any other sentence imposed.
[Act 36 of 2014 wef 01/07/2015]
(3)  Subject to any leave which the Court may give pursuant to an application under subsection (6), a person who —
(a)is disqualified under subsection (1); or
(b)has had a disqualification order made against him under subsection (2),
shall not act as a director, or take part (whether directly or indirectly) in the management of a company, or of a foreign company to which Division 2 of Part XI applies, during the period of the disqualification or disqualification order.
[Act 36 of 2014 wef 01/07/2015]
(4)  The disqualifications in subsection (3) shall —
(a)in a case where the disqualified person has been convicted of any offence referred to in subsection (1) or (2) but has not been sentenced to imprisonment, take effect upon conviction and continue for a period of 5 years or for such shorter period as the court may order under subsection (2);
[Act 15 of 2017 wef 31/03/2017]
(b)in a case where the disqualified person has been convicted of any offence referred to in subsection (1) or (2) and has been sentenced to imprisonment, take effect upon conviction and continue for a period of 5 years after his release from prison; or
[Act 36 of 2014 wef 01/07/2015]
[Act 15 of 2017 wef 31/03/2017]
(c)in a case where the disqualified person is subject, on or after 1 July 2015, to the imposition of a civil penalty under section 232 of the Securities and Futures Act, take effect upon the imposition of the civil penalty and continue for a period of 5 years after the imposition of the civil penalty.
[Act 15 of 2017 wef 31/03/2017]
(5)  A person who contravenes subsection (3) shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $10,000 or to imprisonment for a term not exceeding 2 years or to both.
[Act 36 of 2014 wef 01/07/2015]
(6)  A person who —
(a)is disqualified under subsection (1); or
(b)has had a disqualification order made against him under subsection (2),
may apply to the Court for leave to act as a director, or to take part (whether directly or indirectly) in the management of a company, or of a foreign company to which Division 2 of Part XI applies, during the period of the disqualification or disqualification order, upon giving the Minister not less than 14 days’ notice of his intention to apply for such leave.
[Act 36 of 2014 wef 01/07/2015]
(7)  On the hearing of any application under subsection (6), the Minister may be represented at the hearing and may oppose the granting of the application.
[Act 36 of 2014 wef 01/07/2015]
(8)  Without prejudice to section 409, a District Court may make a disqualification order under this section.
(9)  Any right to apply for leave of the Court to be a director or promoter or to be concerned or take part in the management of a company that was subsisting immediately before 12th November 1993 shall on or after that date be treated as subsisting by virtue of the corresponding provision made under this section.
[UK, 1948, s. 188; Aust. 1961, s. 122]