CATEGORY: NEWS AND ANNOUNCEMENTS
13 Apr 2023
The Accounting and Corporate Regulatory Authority (ACRA), the Ministry of Finance (MOF), and the Monetary Authority of Singapore (MAS) are responding to the consultation feedback on the conduct of virtual and hybrid meetings. This relates to proposed amendments under the Companies, Business Trusts and Other Bodies (Miscellaneous Amendments) Bill 2023 (the Bill).
2. The proposed amendments will provide companies the option to conduct fully virtual or hybrid meetings1. Similar changes are proposed to enable registered business trusts (BTs) and variable capital companies (VCCs) to conduct fully virtual or hybrid meetings.
3. The key feedback received was generally supportive of the proposed amendments to enable the conduct of fully virtual or hybrid meetings . Responses from ACRA, MOF, and MAS are in Annex A. Feedback received on areas not under the scope of the Bill may be considered by ACRA, MOF, and MAS in future reviews.
4. The Bill will be presented in Parliament in April 2023.
5. ACRA, MOF, and MAS would like to thank all respondents for your feedback in this public consultation.
1 For the respondents who commented on meetings of SGX-listed issuers, the majority were in favour of physical and hybrid meetings as this allows shareholders to engage more effectively with the board and management.
