Companies Act (Amendment of Fifth Schedule) Notification 2001

Status:

Published in Subsidiary Legislation Supplement
on 26 Feb 2001

No. S 99

Companies Act

(Chapter 50)

Companies Act (Amendment of Fifth Schedule) Notification 2001

In exercise of the powers conferred by section 45(8) of the Companies Act, the Minister for Finance hereby makes the following Notification:

Citation and commencement

1. This Notification may be cited as the Companies Act (Amendment of Fifth Schedule) Notification 2001 and shall be deemed to have come into operation on 22nd February 2001.

Amendment of Fifth Schedule

2. The Fifth Schedule to the Companies Act is amended —

(a)

by deleting the words “5 years” in the 15th line of paragraph 20(1) of Part II and in the 5th line of paragraph 1 of Part VI and substituting in each case the words “3 years”;

(b)

by deleting the words “5 financial years” wherever they appear in the following provisions and substituting in each case the words “3 financial years”:

Part II:

Paragraphs 20(1) (b) (2nd and 3rd lines), 20 (2) (a) (3rd and 4th lines), 21(a) and 22 (1) (c);

Part V:

Paragraph 12 (a);

Part VI:

Paragraph 9 (a); and

(c)

by deleting paragraph 29 of Part III and substituting the following paragraph:

“29. If in the case of a corporation which has been carrying on business, or of a business which has been carried on, for less than 3 years, the accounts of the corporation or business have only been made up to 2 years or one year, Part II of this Schedule shall have effect as if references to 2 years or one year, as the case may be, were substituted for references to 3 years.”.

Made this 22nd day of February 2001.

LIM SIONG GUAN

Permanent Secretary,
Ministry of Finance,
Singapore.

[RCB0510B/JR/F200100526W; AG/LEG/SL/50/96/2 Vol. 1]

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