Joint Statement by Accounting and Corporate Regulatory Authority (ACRA), Monetary Authority of Singapore (MAS) and Singapore Exchange Regulation (SGX RegCo) on mandatory safe distancing measures

25 Mar 2020 LegisWatch

25 March 2020 - Joint Statement by Accounting and Corporate Regulatory Authority (ACRA), Monetary Authority of Singapore (MAS) and Singapore Exchange Regulation (SGX RegCo) on mandatory safe distancing measures here.

  1. ACRA, MAS and SGX RegCo expect all issuers to comply with the Ministry of Health's (MOH) mandatory safe distancing measures, the latest which (released on 25 March 2020) is announced here.  
  2. These are in addition to the earlier guidance provided by SGX RegCo on 19 March 2020 here. 
  3. It is envisaged that Parliament will deliberate on legislative amendments in April 2020 in relation to the conduct of meetings, to allow issuers the flexibility to limit the number of participants in a physical meeting (with other participants participating by virtual means), or hold meetings solely by virtual means, notwithstanding contrary provisions in their constitutions. Issuers are to put in place arrangements for participants to vote remotely in writing or through electronic means.
  4. Issuers with 31 December year-end may apply for an extension of time from the relevant regulators, as announced by SGX RegCo on 27 February 2020 here.