Singapore legislation

Clause 56

Provision in trust deed as to right to demand poll

(1)

Any provision in the trust deed of a registered business trust shall be void in so far as it would have the effect —

(a)

of excluding the right to demand a poll at a general meeting of the unitholders of the registered business trust on any question or matter other than the election of the chairman of the meeting or the adjournment of the meeting;

(b)

of making ineffective a demand for a poll on any question or matter other than the election of the chairman of the meeting or the adjournment of the meeting that is made —

(i)

by not less than 5 unitholders of the registered business trust having the right to vote at the meeting; or

(ii)

by a unitholder or unitholders of the registered business trust representing not less than 10% of the total voting rights of all the unitholders having the right to vote at the meeting; or

(c)

of requiring the instrument appointing a proxy or any other document necessary to show the validity of or otherwise relating to the appointment of a proxy to be received by the trustee-manager of the registered business trust or any other person more than 48 hours before a meeting or adjourned meeting in order that the appointment may be effective thereat.

(2)

The instrument appointing a proxy to vote at a meeting of the unitholders of a registered business trust shall be deemed to confer authority to demand or join in demanding a poll, and for the purposes of subsection (1), a demand by a person as proxy for a unitholder of the registered business trust shall be deemed to be the same as a demand by the unitholder.

(3)

A person entitled to vote on a poll at a meeting shall be deemed to be a person entitled to vote for the purposes of this Act.

Read in full context — Business Trusts Bill →