Singapore legislation
Clause 81
Clause 81
Amendment of section 294
In the Securities and Futures Act 2001, in section 294 —
replace subsections (1) and (1A) with —“(1) Where a collective investment scheme is authorised under section 286 and constituted as a unit trust, any document relating to the scheme is sufficiently served —
if served on the responsible person for the scheme at the responsible person’s last known address;
if delivered to the secretary or other similar officer of the responsible person at its registered office or principal place of business;
if sent by registered post addressed to the responsible person at its registered office or principal place of business; or
if sent by email to the last email address of the responsible person.(1A) Where a collective investment scheme is authorised under section 286 and constituted as a VCC or sub‑fund, any document relating to the scheme is sufficiently served if served on the VCC in accordance with section 149 of the Variable Capital Companies Act 2018. (1B) Where a collective investment scheme is recognised under section 287, any document relating to the scheme is sufficiently served —
if served on the responsible person for the scheme or the representative for the scheme at the person’s last known address;
if, in the case of a responsible person who is an individual —
the document is delivered to the individual or to some adult member or employee of his or her family or household at his or her last known place of residence;
the document is left at the individual’s usual or last known place of residence or business in an envelope addressed to the individual;
the document is sent by registered post addressed to the individual at his or her usual or last known place of residence or business; or
the document is sent by email to the individual’s last email address; or
if, in the case of a responsible person who is a body corporate or body of persons —
the document is delivered to the secretary or other similar officer of the body corporate or body of persons at its registered office or principal place of business;
the document is left at the registered office or principal place of business of the body corporate or body of persons in an envelope addressed to the body corporate or body of persons;
the document is sent by registered post addressed to the body corporate or body of persons at its registered office or principal place of business; or
the document is sent by email to the last email address of the body corporate or body of persons.(1C) To avoid doubt, a reference in subsection (1)(a), (1A) or (1B)(a) to service of any document relating to the scheme includes the service of any process in relation to the scheme.”;
in subsection (2), after “notice”, insert “, order”;
in subsection (2)(a), after “a corporation”, insert “other than a VCC”;
in subsection (2), replace “if it has been delivered or sent by post or by fax to such person at the person’s last known address.” with —“if it has been —
in the case of an individual —
delivered to the individual or to some adult member or employee of his or her family or household at his or her last known place of residence;
left at the individual’s usual or last known place of residence or business in an envelope addressed to him or her;
sent by registered post addressed to the individual at his or her usual or last known place of residence or business; or
sent by email to the individual’s last email address; or
in the case of a body corporate or body of persons —
delivered to the secretary or other similar officer of the body corporate or body of persons at its registered office or principal place of business;
left at the registered office or principal place of business of the body corporate or body of persons in an envelope addressed to the body corporate or body of persons;
sent by registered post addressed to the body corporate or body of persons at its registered office or principal place of business; or
sent by email to the last email address of the body corporate or body of persons.”; and
replace subsection (3) with —“(3) In subsection (1)(a) or (1B)(a), the last known address of a responsible person that is a company or foreign company is —
if the responsible person is a company, the address of its registered office in Singapore; or
if the responsible person is a foreign company, the address of its registered office in Singapore or the registered address of its authorised representative mentioned in section 366(1) of the Companies Act 1967 or, if the responsible person does not maintain a place of business in Singapore, its registered office in the place of its incorporation.(4) A document, notice, order or direction may be served on a person under this section by email only with that person’s prior written consent.(5) Subsections (1)(b), (c) and (d) and (1B)(b) and (c) and (2) do not apply to documents to be served in proceedings in court.(6) Any document, notice, order or direction sent by registered post to any person in accordance with subsection (1), (1A), (1B) or (2) is deemed to be duly served on the person at the time when the document, notice, order or direction (as the case may be) would in the ordinary course of post be delivered.(7) When proving service of the document, notice, order or direction under subsection (6), it is sufficient to prove that the envelope containing the document, notice, order or direction (as the case may be) was properly addressed, stamped and posted by registered post.(8) Service of a document, notice, order or direction under subsection (1)(d), (1B)(b)(iv) or (c)(iv) or (2)(f)(iv) or (g)(iv) takes effect at the time the email becomes capable of being retrieved by the person to whom the document is sent. (9) In this section, “last email address” means —
the last email address given by the addressee concerned to the person giving or serving the document, notice, order or direction as the email address for the service of the document, notice, order or direction under this Act; or
the last email address of the addressee concerned known to the person giving or serving the document, notice, order or direction.”.