MinLaw to Cease E-meetings Order for Companies in July 2023

Singapore's Ministry of Law (MinLaw) will revoke the COVID-19 (Temporary Measures) (Alternative Arrangements for Meetings) Orders, also known as the "Meetings Orders," on July 1, 2023.

The Meetings Orders were introduced in Singapore in April 2020 to temporarily allow entities to conduct official meetings virtually, as per MinLaw, even if a virtual meeting is "not allowed under other written law or legal instrument."

These entities include companies, variable capital companies, business trusts, unit trusts, and debenture holders.

The Meetings Orders were supposed to expire in September 2020, but were extended due to the health crisis at the time. In a press release on Dec. 15, MinLaw said Singapore has made strides in moving towards living with the virus and that meetings can now be held physically.

After consultations, MinLaw has decided to revoke the Meetings Orders on July 1, 2023. Entities have six months or up until June 30 to rely on the Meetings Orders in conducting meetings.

Following this statement, the Monetary Authority of Singapore (MAS) and the Accounting and Corporate Regulatory Authority (ACRA) announced on the same day that they are developing legislative amendments so entities can hold virtual meetings after the Meetings Orders are revoked.

Listed entities on the Singapore Exchange (SGC) were also advised to monitor the latter's guidance on conducting general meetings.