Companies Act - Singapore Statutes Online

Limitation of liability of trustee, etc., registered as holder of shares

195.—(1) Any trustee, executor or administrator of the estate of any deceased person who was registered in a register as the holder of a share in any company may become registered as the holder of that share as trustee, executor or administrator of that estate and shall in respect of that share be subject to the same liabilities and no more as he would have been subject to if the share had remained registered in the name of the deceased person.

[Act 15 of 2017 wef 31/03/2017]

(2) Any trustee, executor or administrator of the estate of any deceased person who was beneficially entitled to a share in any company being a share registered in a register may with the consent of the company and of the registered holder of that share become registered as the holder of the share as trustee, executor or administrator of that estate and shall in respect of the share be subject to the same liabilities and no more as he would have been subject to if the share had been registered in the name of the deceased person.

[Act 15 of 2017 wef 31/03/2017]

(3) Shares in a company registered in a register and held by a trustee in respect of a particular trust shall at the request of the trustee be marked in the register in such a way as to identify them as being held in respect of the trust.

[Act 15 of 2017 wef 31/03/2017]

(4) Subject to this section, no notice of any trust expressed, implied or constructive shall be entered in a register or be receivable by the Registrar and no liabilities shall be affected by anything done in pursuance of subsection (1), (2) or (3) or pursuant to the law of any other place which corresponds to this section and the company concerned shall not be affected by notice of any trust by anything so done.

[UK, 1948, s. 117; Aust., 1961, s. 156]

[Act 15 of 2017 wef 31/03/2017]

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