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VCC Act amended to permit fully virtual general meetings
By VCCGuide Editorial
Reviewed by the fund management team at JCube Capital Partners (JCP), a Monetary Authority of Singapore capital markets services licence holder (Licence No. CMS100895).
What changed?
Parliament passed the Companies, Business Trusts and Other Bodies (Miscellaneous Amendments) Act 2023 on 9 May 2023, amending the Variable Capital Companies Act 2018 to give VCCs a permanent statutory option to hold fully virtual or hybrid general meetings. The provisions took effect on 1 July 2023.
Why it matters for fund managers
For VCCs with internationally dispersed directors and shareholders, this removed a recurring logistical burden. Meeting formats can now be chosen on convenience rather than statutory constraint, without relying on temporary COVID-era relief.