Public Consultation on Legislative Amendments to Enable The Conduct of General Meetings by Electronic Means
09 Feb 2023The Accounting and Corporate Regulatory Authority (ACRA), the Ministry of Finance (MOF), and the Monetary Authority of Singapore (MAS) have proposed legislative amendments to the Companies Act 1967 (CA), Variable Capital Companies Act 2018 (VCC Act) and the Business Trusts Act 2004 (BTA), to enable the conduct of general meetings by electronic means.
2. The public is invited to provide feedback on proposed amendments, which will provide companies, variable capital companies and business trusts the option of conducting fully virtual or hybrid general meetings when the COVID-19 (Temporary Measures) (Alternative Arrangements for Meetings) Orders are revoked with effect from 1 July 2023.
3. The public consultation exercise will run from 9 to 20 February 2023. The public can access the public consultation documents, including the draft Companies, Business Trusts and Other Bodies (Miscellaneous Amendments) Bill 2023, on the REACH consultation portal. The public consultation documents are also available on ACRA, MOF, and MAS' website.
4. Interested parties can submit their comments via email to “MOF_Public_Consultation@mof.gov.sg”, by indicating “Public Consultation on Companies, Business Trusts and Other Bodies (Miscellaneous Amendments) Bill 2023” in the subject line by 20 February 2023.
ACCOUNTING AND CORPORATE REGULATORY AUTHORITY
MINISTRY OF FINANCE
MONETARY AUTHORITY OF SINGAPORE
9 FEBRUARY 2023