Singapore legislation

Clause 21

of Business Trusts (Amendment) Bill

Clause 21

Amendment of section 56

Section 56 of the principal Act is amended —

(a)

by deleting “10%” in subsection (1)(b)(ii) and substituting “5%”;

(b)

by deleting the words “48 hours” in subsection (1)(c) and substituting the words “72 hours”; and

(c)

by inserting, immediately after subsection (1), the following subsection:“(1A) Despite subsection (1)(b), where any provision in the trust deed of a registered business trust registered under this Act before the date of commencement of section 21 of the Business Trusts (Amendment) Act 2022 is void under subsection (1)(b)(ii), a demand for a poll on any question or matter other than the election of the chairperson of the meeting or the adjournment of the meeting may be made by a unitholder or unitholders of the registered business trust representing at least 5% of the total voting rights of all the unitholders having the right to vote at the meeting.”.