s 60 Proxies
60.—(1) Subject to this section, a unitholder of a registered business trust entitled to attend and vote at a meeting of the unitholders of the registered business trust, or at a meeting of any class of unitholders of the registered business trust, is entitled to appoint another person, whether a unitholder or not, as the unitholder’s proxy to attend and vote instead of the unitholder at the meeting.[Act 30 of 2022 wef 12/03/2024] (2) Subject to this section, a proxy appointed under subsection (1) to attend and vote at a meeting of the unitholders of a registered business trust instead of a unitholder of the registered business trust also has the same right as the unitholder to speak at the meeting, but unless the trust deed otherwise provides —(a) a proxy is not entitled to vote except on a poll; (b) a unitholder is not entitled to appoint more than 2 proxies to attend and vote at the same meeting; and (c) where a unitholder appoints 2 proxies, the appointments are invalid unless the unitholder specifies the proportions of the unitholder’s holdings to be represented by each proxy.[Act 30 of 2022 wef 12/03/2024] (2A) A unitholder of a registered business trust who is a relevant intermediary may appoint more than 2 proxies in relation to a meeting to exercise all or any of the unitholder’s rights to attend and to speak and vote at the meeting, but each proxy must be appointed to exercise the rights attached to a different unit or units held by the unitholder (which number and class of units must be specified).[Act 30 of 2022 wef 12/03/2024] (2B) A proxy appointed under subsection (2A) has at a meeting the right to vote on a show of hands.[Act 30 of 2022 wef 12/03/2024] (3) The trustee‑manager of a registered business trust must, in every notice calling a meeting of the unitholders of the registered business trust or a meeting of any class of unitholders of the registered business trust, provide with reasonable prominence a statement as to the rights of a unitholder to appoint a proxy or proxies to attend and vote instead of the unitholder, and that a proxy need not also be a unitholder.[Act 30 of 2022 wef 12/03/2024] (4) Any trustee‑manager of a registered business trust which authorises or permits an invitation to appoint as proxy a person or one of a number of persons specified in the invitation to be issued at the expense of the registered business trust to only some of the unitholders of the registered business trust entitled to be sent a notice of the meeting and to vote at that meeting by proxy shall be guilty of an offence. (5) A person is not guilty of an offence under subsection (4) by reason only of the issue to a unitholder of a registered business trust at the unitholder’s request of a form of appointment naming the proxy or a list of persons willing to act as proxies if the form or list is available on request in writing to every unitholder entitled to vote at the meeting by proxy. (6) Any trustee‑manager of a registered business trust which authorises or permits an invitation to appoint as proxy a person or one of a number of persons specified in the invitation to be issued or circulated shall be guilty of an offence unless the invitation is accompanied by a form of proxy which entitles the unitholder of the registered business trust to direct the proxy to vote either for or against the resolution. (7) Any trustee‑manager of a registered business trust which contravenes subsection (3) shall be guilty of an offence. (8) In this section —“banking corporation” means a bank or merchant bank licensed under the Banking Act 1970; “relevant intermediary” means —(a) a banking corporation or a wholly owned subsidiary of a banking corporation, whose business includes the provision of nominee services and who holds units in that capacity; (b) a person holding a capital markets services licence to provide custodial services under the Securities and Futures Act 2001 and who holds units in that capacity; or (c) the Central Provident Fund Board established by the Central Provident Fund Act 1953, in respect of units purchased under the subsidiary legislation made under that Act providing for the making of investments from the contributions and interest standing to the credit of members of the Central Provident Fund, if the Central Provident Fund Board holds those units in the capacity of an intermediary pursuant to or in accordance with that subsidiary legislation; “wholly owned subsidiary” has the meaning given by section 5B of the Companies Act 1967.[Act 30 of 2022 wef 12/03/2024]