2002 Ed. Newspaper and Printing Presses 10 CAP. 206 who is not a citizen of Singapore and for the appointment of any such person as a director of a newspaper company. (16) This section shall have effect notwithstanding the provisions of any other written law or anything contained in the memorandum or articles of association of a newspaper company. (17) In this section, “surplus assets” means all the assets of a newspaper company remaining after the liabilities of the company have been discharged and after the costs of the winding up have been paid or provided for, but before any capital has been paid to the ordinary shareholders or any profits distributed to them. [9 Control of substantial shareholdings in newspaper companies 11.—(1) No person shall, on or after 2nd September 2002*, become a substantial shareholder of a newspaper company without first obtaining the approval of the Minister. [20/2002] (2) Subject to section 13(4), no person who, immediately before 2nd September 2002, is a substantial shareholder of a newspaper company shall continue to be a substantial shareholder unless he has, within 6 months after that date or such longer period as the Minister may allow, applied to the Minister for approval to continue to be such a shareholder. [20/2002] (3) No person shall, on or after 2nd September 2002, enter into any agreement or arrangement, whether oral or in writing and whether express or implied, to act together with any other person with respect to the acquisition, holding or disposal of, or the exercise of rights in relation to, their interests in voting shares of an aggregate of more than 5% of the total votes attached to all voting shares in a newspaper company without first obtaining the approval of the Minister. [20/2002] [21/2005 wef 30/01/2006] (4) Subject to section 13(4), no person who, at any time before 2nd September 2002, has entered into any agreement or arrangement referred to in subsection (3) shall continue to be a party to such an *Date of commencement of the Newspaper and Printing Presses (Amendment) Act 2002 (Act 20 of 2002). Informal Consolidation – version in force from 1/7/2015