ACRA’s Support Measures and Guidance for Businesses during COVID-19

ACRA published updated guidelines for holding of virtual AGM during Covid-19 period.

On 13 April 2020, the COVID-19 (Temporary Measures) (Alternative Arrangements for Meetings for Companies, Variable Capital Companies, Business Trusts, Unit Trusts and Debenture Holders) Order 2020 (Order) was issued. The Order prescribes the alternative arrangements for the conduct of general meetings of companies, variable capital companies, unit holders of registered business trusts, unit holders of unit trusts and holders of debentures.

The alternative arrangements apply to meetings convened, held, conducted or deferred during the Control Period. A transitional arrangement is also provided for any meeting convened, held, conducted or deferred during a period of 30 days after the end of the Control Period, where the notice of the meeting was given during the Control Period. The Control Period will be the period commencing retrospectively from 27 March 2020 to the last day the Regulations or the Infectious Diseases (Measures to Prevent Spread of COVID-19) Regulations 2020 is in force. The transitional arrangement will not apply to meetings that are further adjourned after the Control Period.

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