Singapore legislation

Clause 64

of Business Trusts Bill

Clause 64

Resolutions requiring special notice

(1)

Subject to subsection (2), where by this Act special notice is required of a resolution, the resolution shall not be effective unless —

(a)

notice of the intention to move it has been given to the trustee-manager of a registered business trust not less than 28 days before the meeting at which it is moved; and

(b)

the trustee-manager of a registered business trust has given the unitholders of the registered business trust notice of any such resolution at the same time and in the same manner as it gives notice of the meeting or, if that is not practicable, has given them notice thereof, in any manner allowed by the trust deed of the registered business trust, not less than 14 days before the meeting.

(2)

If a meeting is called for a date 28 days or less after notice of the intention to move a resolution referred to in subsection (1) has been given to the trustee-manager of the registered business trust, such notice shall, although not given to the trustee-manager within the time required by that subsection, be deemed to be properly given.