383. No civil proceedings to be brought in respect of bearer shares or share warrants

Question 1

383. No civil proceedings to be brought in respect of bearer shares or share warrants

Answer 1

General overview
[383.01] Section 383 is a new section that was introduced by Act No 15 of 2017. Under s 383, any allotment, issue, sale, transfer, assignment, or other disposition in Singapore of any bearer share or share warrant by a foreign company to which Division 2 of Part XI of the Act applies will be void. Additionally, no civil proceedings may be brought in any court in respect of any such allotment, issue, sale, transfer, assignment, or other disposition by a foreign company: Explanatory Statement to Bill No 13 of 2017, First Reading on February 28, 2017.