Constitution of the Republic of Singapore
—(1) Notwithstanding the provisions of the memorandum and
Status: in_forceRetrieved: 2026-08-18T06:44:08.139520+00:00Release: constitutions-global-20260821-v2
22C.—(1) Notwithstanding the provisions of the memorandum and
articles of association of the company, the appointment or removal of
any person as a director or chief executive officer of any Government
company to which this Article applies shall not be made unless the
President, acting in his discretion, concurs with such appointment or
removal.
(2) (a) A director of a Government company to which this Article
applies shall be appointed for a term not exceeding 3 years and shall
be eligible for reappointment.
(b) Any appointment or removal of any director or chief executive
officer of a Government company to which this Article applies
without the concurrence of the President shall be void and of no
effect.
(3) This Article shall apply to the Government companies specified
in Part 2 of the Fifth Schedule.
(4) Subject to clause (5), the President acting in accordance with the
advice of the Cabinet may, by order published in the Gazette, add any
other Government company to Part 2 of the Fifth Schedule; and no
Government company shall be removed from that Part by any such
order.
(5) No Government company shall by order under clause (4) be
added to Part 2 of the Fifth Schedule unless on the date of making of
such order —
(a) the value of the share holders’ funds of the company
attributable to the Government’s interest in the company is
worth $500 million or more; and
(b) it is not a subsidiary of any of the Government companies
specified in Part 2 of the Fifth Schedule; and for the
purposes of this paragraph, “subsidiary” shall have the
same meaning as in the Companies Act 1967.
[28/2016]
Budgets of Government companies
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Provenance
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