The
Amendment Bill introduces extensive changes to the
share capital and the capital maintenance regime with
effect from 30 January 2006. Among
other changes, the Bill:
abolishes
par value (nominal value) for shares and authorised
capital;
makes
transitional provisions for all companies with a
share capital;
allows
companies to give financial assistance to third parties
in specified circumstances;
allows
companies to reduce their share capital without a
court order;
allows
redemption of redeemable preference shares out of
capital or profits;
allows
companies to buy back shares out of capital or profits;
introduces
treasury shares and their permitted uses
For
more details, please log on to
www.acra.gov.sg Or contact
Ms Peggy @ 6533 7393 Ext. 115,
or email svc@dni-secretarial.com.
