Capital Markets, Listed Entities & M&A

Update: Conducting Meetings by Electronic Means Amid COVID-19

Various control and safe distancing measures have been put in place in Singapore to prevent the spread of COVID-19. These measures along with provisions under written law and certain legal instruments requiring personal attendance at meetings have caused difficulties to business entities in Singapore in conducting their annual general meetings and meetings involving a large number of participants.

In response to this, the COVID-19 (Temporary Measures) Act 2020 ("Act") was enacted to provide, among other things, that meetings convened, held, conducted or deferred, on or after 27 March 2020, in accordance with the alternative arrangements prescribed under the Act will be deemed to have satisfied the relevant requirements under the written law or legal instrument.

This Update highlights the changes to the period of application of the prescribed alternative arrangement for conducting shareholders, unitholders and bondholders meetings by electronic means and new Orders issued under the Act to prescribe for the alternative arrangements for conducting meetings by electronic means for other types of meetings and business entities.