FINANCIAL SERVICES | Staff Reporter, Singapore

SGX seeks feedback on changes to Mainboard, Catalist Listing Rules

It’s an attempt to align with the amended Companies Act.

SGX is seeking public feedback on proposed amendments to Mainboard and Catalist Listing Rules including the electronic transmission of notices and documents to shareholders. According to the market regulator’s announcement, the proposals are to align the rules with the amended Companies Act passed in October 2014.

The bourse is consulting the public, firstly, on whether there are concerns if companies are allowed to electronically transmit these materials to shareholders with their implied consent. This means the company’s articles of association provide for electronic communication and shareholders won’t have the option to receive physical copies.

Secondly, SGX is concerned whether companies should be allowed to do so when consent from shareholders is expressly, or deemed to have been, obtained.

SGX also stated that it is soliciting views and comments on on policy positions highlighted by other recent statutory changes. This includes safeguards for notices and documents’ electronic transmission; directors’ insurance coverage and indemnities; voting rights restraint; and subsidiary’s treatment of shares in its holding company. 

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