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IN HER letter, 'Restrict frequency of costly en bloc EGMs' (Feb 8), Madam Mona Liew Tan Lee suggested imposing a restriction on the frequency of extraordinary general meetings (EGMs) to consider a collective property sale.
This was considered in the public consultation last year on changes to the collective sale provisions in the Land Titles (Strata) Act. The proposal was not adopted as it would mean, even if market conditions are favourable and most owners want to embark on another attempt at a collective sale shortly after a previous attempt, they will be prevented from doing so.
Although there is no restriction on frequency of EGMs, holding an EGM requires the agreement of a minimum number of owners.
We assure Madam Liew we are monitoring the effect of the new legislation and will make further changes where necessary.
Radha S. Khoo (Ms)
Head, Corporate Communications
Ministry of Law
We are monitoring the effect of the new legislation and will make further changes where necessary.
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