News

13 April 2023

1. In response to the consultation feedback on the conduct of virtual and hybrid meetings, The Accounting and Corporate Regulatory Authority (ACRA), the Ministry of Finance (MOF), and the Monetary Authority of Singapore (MAS) are currently responding to it. This is in relation to the proposed amendments under the Companies, Business Trusts and Other Bodies (Miscellaneous Amendments) Bill 2023 (the Bill).
2. Companies would have the option to have wholly virtual or hybrid meetings according to the proposed revisions. Similar modifications are being considered to make it possible for hybrid or entirely virtual meetings to be held by registered business trusts (BTs) and variable capital corporations (VCCs).
3. The majority of the response was positive toward the suggested changes to allow for entirely virtual or hybrid meetings. Annex A contains the responses from ACRA, MOF, and MAS. ACRA, MOF, and MAS may take the feedback received on topics outside the purview of the Bill into account in upcoming evaluations.
4. In April 2023, the Bill will be introduced in Parliament.
5. ACRA, MOF, and MAS would like to express their gratitude to all respondents for their input during this public consultation.

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