Singapore legislation
Clause 20
Clause 20
Amendment of section 24
Section 24 of the principal Act is hereby amended by deleting subsection (2) thereof and substituting therefor the following: —“(2) Where a subsidiary proprietor’s interest is subject to one or more registered mortgages, the powers of voting conferred on him by the First Schedule to this Act —
shall, in any case where an unanimous resolution is required, be exercised by the mortgagee first entitled in priority either personally or by proxy unless such mortgagee has at any time prior to the general meeting given notice in writing to the management corporation that he does not intend to exercise the said powers of voting;
in any other case, may be exercised by the subsidiary proprietor unless the mortgagee first entitled in priority has at any time prior to the general meeting given written notice to the management corporation of his intention to exercise the said powers of voting and in such event the powers of voting shall be exercised by the mortgagee when the mortgagee is present personally or by proxy at the general meeting and if the mortgagee or his proxy is not present at the general meeting, then the powers of voting may subject to the provisions of paragraph (c) of this subsection be exercised by the subsidiary proprietor;
in any case where the mortgagee first entitled in priority does not wish to exercise his powers of voting, the registered mortgagee entitled next in priority or his proxy may exercise the powers of voting conferred upon the mortgagee first entitled in priority and if the registered mortgagee entitled next in priority or his proxy is not present at the said general meeting then such powers of voting may be exercised by the subsidiary proprietor.(3) A registered mortgagee shall not be entitled to exercise his powers of voting conferred by subsection (2) of this section unless he has notified his interest to the management corporation.”.