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Trustees (Amendment) Bill

Bill No. 3/1978

Read the first time on 31st January 1978.

An Act to amend the Trustees Act (Chapter 40 of the Revised Edition).

Be it enacted by the President with the advice and consent of the Parliament of Singapore, as follows: —

Short title

1. This Act may be cited as the Trustees (Amendment) Act, 1978.

Amendment of section 3

2. Section 3 of the Trustees Act is hereby amended —

(a)

by inserting, immediately after the definition of “the court”, the following definition: —

“ “debentures” includes debenture stock, loan stock, bonds, notes and any other document which creates or acknowledges a debt, whether constituting a charge on assets or not;”; and

(b)

by inserting in the definition of “securities”, immediately after the word “includes” in the first line thereof, the expression “debentures,”.