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What is Special Resolution for a Private Limited Company in Singapore?
What is Special Resolution for a Singapore Pte Ltd Company?
What is Special Resolution for a Singapore Private Limited Company?
Special resolutions: A special resolution is a formal decision passed by at least 75% majority of the votes cast at a meeting.
Generally for public companies, a 21 days’ written notice must be given for the meeting whereas for private companies, a 14 days’ written notice must be given.
The meeting however can be held with shorter notice if members who hold at least 95% of the voting rights agree to shorter notice. In addition, the company must lodge a copy of all special resolutions with ACRA as part of the requirements for lodgements.
Special resolutions are needed only when the decisions to be made are very crucial or very important.
A company must pass a special shareholder resolution in accordance with the Companies Act to the following (example) decisions:
- To change any clause of its constitution
- To change the company name
- For reduction of company’s share capital
