Phase identity and age-rule repeal
The source labels Phase 2 as Q1 2016 and compares old/new law rather than supplying every later consolidated provision. Repeal of section 153 removes the requirement for shareholder approval to appoint persons aged 70 or above to public companies or their subsidiaries. It concerns an upper-age approval rule, not abolition of separate minimum-age or capacity requirements. Ability depends on more than chronological age, and older directors were commonly reappointed.
CEO disclosure and debarment
Sections 156/164 extend directors’ transaction-conflict and company-shareholding disclosures to CEOs. Section 155B allows debarment for company filings at least three months overdue: it prevents new director/secretary appointments but permits existing ones, and lifts on cure or other prescribed grounds. This is not a rule automatically terminating every current appointment when a document becomes late.
Multiple proxies and electronic transmission safeguards
Section 181 allows specified custodial intermediaries such as banks/licensed capital-market providers to appoint over two proxies, giving indirect/CPF investors equal meeting voting opportunities. The old 48-hour submission rule appears in the comparison; new longer preparation time is discussed without a number here. Section 387C simplifies communications and lets constitutions set electronic modes/defaults. Notify members of available physical-copy options and constitution-specified website publication. Takeover and rights-issue important documents must remain physical under the stated safeguards. The old website rule required written agreement for the specific meeting/document, legibility, access notification and publication through meeting end; these are old requirements being contrasted, not all newly imposed conditions.
Different voting rights and all four safeguards
Sections 64/64A remove the public one-share-one-vote restriction; private companies already lacked it. Special resolution approval is needed; meeting notice/resolution includes each class’s voting information; constitution rights are clearly delineated; and non-voting holders vote equally on winding-up and changing non-voting-share rights. The document’s SGX/MAS ongoing review and then no-dual-class listing policy are historical. Corporate-law permission does not itself settle exchange listing eligibility.
Dormant preparation exemption remains conditional
Section 201A exempts unlisted dormant companies other than listed subsidiaries if dormant since formation/previous year-end and assets never exceed S$500,000 within the year. A parent applies consolidated assets throughout. Listed dormant companies/subsidiaries and failed-asset-test entities still prepare statements, though retain dormant audit relief. This separates preparation from audit, and measures assets at any time rather than only at year-end.
Electronic private-company members
ACRA replaces physical registers for private-company members. File allotments, transfers and ownership changes; filing dates determine effective joining/cessation entries. The row cites 189A,190–196,196A–D and 12. This is the source’s section listing and should not be silently replaced with different numbering from another overview. Electronic administration improves access but still depends on proper company filing.
Former alternate addresses and complete safeguards
Directors, CEOs and secretaries may publicly show a locatable alternate in the same residence jurisdiction, not a post-office address or their residential address. If unlocatable, after investigation/due process ACRA can disclose the residence, with possible criminal sanction and a three-year bar on another alternate. Older filed extracts retain residences. The comparison concerns the former address regime and privacy balance, not a promise of historical-data removal or present-day service terms.
Constitution merger and both model modes
Memorandum/articles become one constitution by law without existing-company action/cost. New applicants file it or identify an unamended model title without filing text. Models are optional and can be fixed at registration or adopt the version in force from time to time; the latter automatically follows model changes. A self-drafted or amended document does not gain the no-text advantage merely by referring to a model. The source ends with Phase 1/FAQ further-reading references.
Official source
This article independently explains the substantive contents of the official PDF, including the relevant conditions, procedures and annexes. The linked document remains the authoritative source for its original wording, and later changes should be checked separately.
Read the official PDF ↗