Regulators issue extra guidelines on general meetings

It is an addition to Part 4 of the COVID-19 Act 2020.

The Accounting and Corporate Regulatory Authority (ACRA), the Monetary Authority of Singapore (MAS) and Singapore Exchange Regulation (SGX RegCo) have released additional guidelines for listed and non-listed firms on holding general meetings amidst heightened distancing measures.

The list contains further guidelines on Part 4 of the COVID-19 Act 2020 and the COVID-19 Order 2020, the latter of which was issued by the Ministry of Law on 13 April.

The Ministry of Trade and Industry would grant an automatic time-limit exemption should issuers require certain essential persons to be in the same location to conduct a virtual meeting, provided that the number of persons does not exceed six and safe distancing measures are being upheld at the venue.

Issuers whose annual general meetings are going to be held during 16 April to 31 July may opt to defer by up to 60 days.

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