Persons connected with director in section 25C
25D.—(1)  For the purposes of section 25C, a reference to a person connected with a director means —
(a)a member of the director’s family;
(b)a body corporate with which the director is connected within the meaning of subsection (2)(b);
(c)a person acting in his capacity as trustee of a trust —
(i)the beneficiaries of which include the director or a person who by virtue of paragraph (a) or (b) is connected with him; or
(ii)the terms of which confer a power on the trustees that may be exercised for the benefit of the director or any such person,
other than a trust for the purposes of an employees’ share scheme or on a pension scheme;
(d)a person acting in his capacity as partner —
(i)of the director; or
(ii)of a person who, by virtue of paragraph (a), (b) or (c), is connected with that director;
(e)a firm that is a legal person under the law by which it is governed and in which —
(i)the director is a partner;
(ii)a partner is a person who, by virtue of paragraph (a), (b) or (c), is connected with the director; or
(iii)a partner is a firm in which the director is a partner or in which there is a partner who, by virtue of paragraph (a), (b) or (c), is connected with the director; and
(f)a reference to a person connected with a director of a company does not include a person who is himself a director of the company.
(2)  For the purposes of this section —
(a)a member of a director’s family shall include his spouse, son, adopted son, step-son, daughter, adopted daughter and step-daughter;
(b)a director is connected with a body corporate if, and only if, he and the persons connected with him together —
(i)are interested in at least 20% of the share capital of that body corporate; or
(ii)are entitled to exercise or control, directly or indirectly, the exercise of more than 20% of the voting power at any general meeting of that body corporate;
(c)a reference in paragraph (b)(ii) to voting power the exercise of which is controlled by a director includes voting power whose exercise is controlled by a body corporate controlled by him;
(d)for the avoidance of circularity in the application of subsection (1) —
(i)a body corporate with which a director is connected is not treated for the purposes of this subsection as connected with him unless it is also connected with him by virtue of subsection (1)(c) or (d); and
(ii)a trustee of a trust the beneficiaries of which include (or may include) a body corporate with which a director is connected is not treated for the purposes of this subsection as connected with a director by reason only of that fact; and
(e)“body corporate” includes a body incorporated outside Singapore, but does not include —
(i)a corporation sole; or
(ii)a partnership that, whether or not a legal person, is not regarded as a body corporate under the law by which it is governed.
[Act 36 of 2014 wef 03/01/2016]