Singapore legislation
Section 55
Section 55
Calling of meetings
(1)
Two or more unitholders of a registered business trust may call a meeting of unitholders of the registered business trust if they —
hold in aggregate at least 10% of the total voting rights of all the unitholders having at the date of calling of the meeting a right to vote at general meetings of the unitholders of the registered business trust; or
constitute at least 5% in number of the unitholders of the registered business trust or any lesser number that is provided by the trust deed of the registered business trust.
(2)
The trustee‑manager of a registered business trust must call a meeting of the unitholders of the registered business trust or of a class of unitholders of the registered business trust, other than a meeting for the passing of a special resolution, by written notice of at least 14 days or any longer period that is provided in the trust deed of the registered business trust.
(3)
A meeting is, even though it is called by notice shorter than is required by subsection (2), deemed to be duly called if it is so agreed —
in the case of a meeting called as the annual general meeting, by all the unitholders entitled to attend and vote at that meeting; or
in the case of any other meeting, by a majority in number of the unitholders having a right to attend and vote at that meeting, being a majority which together holds at least 95% of the total voting rights of all the unitholders at that meeting.
(4)
The trustee‑manager of a registered business trust must serve notice of every meeting on every unitholder of the registered business trust having a right to attend and vote at that meeting in the manner in which such notice is required to be served under the trust deed of the registered business trust.
(5)
Any trustee‑manager of a registered business trust which contravenes subsection (2) or (4) shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $50,000 and, in the case of a continuing offence, to a further fine not exceeding $5,000 for every day or part of a day during which the offence continues after conviction.