SGX Seeks Feedback On Proposed Amendments To Align Listing Rules With Companies Act

Singapore Exchange (SGX) is consulting the public on proposed Mainboard and Catalist Listing Rules changes including the electronic transmission of notices and documents to shareholders. The proposals are to align the Rules with the amended Companies Act passed in October 2014.

SGX is also seeking feedback on policy positions highlighted by other recent statutory changes.

On the transmission of electronic notices and documents such as circulars and annual reports, SGX seeks feedback on:

1. Whether there are concerns if companies are allowed to electronically transmit these materials to shareholders with their implied consent. Implied consent means the company’s articles of association provide for electronic communication and shareholders will not have the option to receive physical copies of materials; and

2. Whether companies should be allowed to do so when consent from shareholders is expressly, or deemed to have been, obtained.

In addition to the above, SGX also seeks views and comments on:

• Safeguards for Electronic Transmission of Notices and Documents
• Insurance coverage and indemnities for Directors
• Restraint on Exercise of Voting Rights
• Treatment of Shares held by a Subsidiary in its Holding Company

SGX invites comments on its Consultation Paper until 12 February 2016. The Consultation Paper is available on SGX’s “Consultation and Publications” webpage. Responses can be sent to: