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SINGAPORE: The number of owners that a proxy can represent at general meetings for block sales will be restricted from January 2021, the Ministry of Law (MinLaw) said on Tuesday (September 29).
Under the Land Title (Stratum) Act (LTSA), an owner of stratum title property may appoint an attorney-in-fact to attend general meetings for block sales and vote on proposals presented at such meetings. The agent can also vote in the election of the members of the collective selling committee.
“However, there is no restriction on the number of owners a representative can represent,” MinLaw said.
“We will strengthen the safeguards in the LTSA to encourage homeowners to participate in person in such general meetings and minimize the risk of abuse of power.”
The ministry said it intends to modify the LTSA to set a limit for proxy holders at 2 percent of the total number of lots in a strata development or in two lots, whichever is greater.
“We will also improve the form of the proxy appointing instrument, to allow the proxy giver to explicitly instruct their proxy to vote as intended,” MinLaw added in its press release Tuesday.
The developers have been told to make “necessary preparations” before January 2021 to ensure they comply with the power restrictions.
MinLaw said that in addition to the alternative meeting arrangements set forth in the COVID-19 (Temporary Measures) Act, the relevant provisions in the LTSA related to general meetings for bulk sales will continue to be in effect.
