Companies Act (Cap. 50): Primary legislation governing corporate actions including Section 157 (Directors' fiduciary duties), Section 160 (Disclosure of interests), Section 23 (Powers of directors), and major transaction provisions. Essential for ensuring board resolution compliance with statutory requirements.
Securities and Futures Act (Cap. 289): Regulates securities markets and financial activities. Relevant for disclosure obligations and requirements for material transactions, particularly if the company is listed.
SGX Listing Rules: Applicable for listed companies, particularly Chapter 10 on transactions, material disposal thresholds, and shareholder approval requirements for significant asset disposals.
Income Tax Act (Cap. 134): Governs tax implications of asset disposals including potential capital gains considerations and tax liability assessment requirements.
Stamp Duties Act (Cap. 312): Regulates stamp duties applicable to property transfers and outlines documentary requirements for asset disposal transactions.
Competition Act (Cap. 50B): Relevant when disposal is significant enough to trigger merger control provisions or affect market competition.
Board Authority Limits: Internal corporate governance requirements defining the scope and limits of board authority in asset disposal decisions.
Shareholder Approval Requirements: Thresholds and conditions requiring shareholder approval for significant asset disposals, as per company constitution and relevant laws.
Disclosure Obligations: Requirements for transparent communication of asset disposal details to relevant stakeholders, regulators, and the public if applicable.
Valuation Requirements: Guidelines for obtaining and documenting fair market value assessments of assets to be disposed.
