Comparison View

Formal Consolidation |  Amended Act 36 of 2014
Electronic transmission in accordance with constitution, etc.
387C.—(1)  Notwithstanding sections 387A and 387B, where a notice of meeting or any accounts, balance-sheet, financial statements, report or other document is required or permitted to be given, sent or served under this Act or under the constitution of a company by the company or the directors of the company to a member of the company, that notice or document may be given, sent or served using electronic communications with the express, implied or deemed consent of the member in accordance with the constitution of the company.
(2)  For the purposes of this section, a member has given implied consent if the constitution of the company —
(a)provides for the use of electronic communications;
(b)specifies the manner in which electronic communications is to be used; and
(c)provides that the member shall agree to receive such notice or document by way of such electronic communications and shall not have a right to elect to receive a physical copy of such notice or document.
(3)  For the purposes of this section, a member shall be deemed to have consented if —
(a)the constitution of the company provides for the use of electronic communications;
(b)the constitution of the company specifies the manner in which electronic communications is to be used;
(c)the constitution of the company specifies that the member will be given an opportunity to elect within a specified period of time (the specified time), whether to receive such notice or document by way of electronic communications or as a physical copy; and
(d)the member was given an opportunity to elect whether to receive such notice or document by way of such electronic communications or as a physical copy, and he failed to make an election within the specified time.
(4)  The Minister may make regulations under section 411 —
(a)to exclude any notice or document or any class of notices or documents from the application of this section;
(b)to provide for safeguards for the use of electronic communications under this section; and
(c)without prejudice to the generality of paragraph (b), to provide that a member who is deemed to have consented to receive notices or documents by way of electronic communications may make a fresh election to receive such notice or document as a physical copy and the manner in which the fresh election may be made.
[Act 36 of 2014 wef 03/01/2016]
Informal Consolidation | Amended Act 15 of 2017
Electronic transmission in accordance with constitution, etc.
387C.—(1)  Notwithstanding sections 387A and 387B, where a notice of meeting or any accounts, balance-sheet, financial statements, report or other document is required or permitted to be given, sent or served under this Act or under the constitution of a company by the company or the directors of the company to a member of the company, that notice or document may be given, sent or served using electronic communications with the express, implied or deemed consent of the member in accordance with the constitution of the company.
(2)  For the purposes of this section, a member has given implied consent if the constitution of the company —
(a)provides for the use of electronic communications;
(b)specifies the manner in which electronic communications is to be used; and
(c)provides that the member shall agree to receive such notice or document by way of such electronic communications and shall not have a right to elect to receive a physical copy of such notice or document.
(3)  For the purposes of this section, but subject to regulations mentioned in subsection (4), a member is deemed to have consented if —
(a)the member was by notice in writing given an opportunity to elect, within such period of time specified in the notice, whether to receive the notice or document by way of electronic communications or as a physical copy; and
(b)the member failed to make an election within the time so specified.
[Act 15 of 2017 wef 31/08/2018]
(4)  The Minister may make regulations under section 411 —
(a)to exclude any notice or document or any class of notices or documents from the application of this section;
(b)to provide for safeguards for the use of electronic communications under this section; and
(c)without prejudice to the generality of paragraph (b), to provide that a member who is deemed to have consented to receive notices or documents by way of electronic communications may make a fresh election to receive such notice or document as a physical copy and the manner in which the fresh election may be made.
[Act 36 of 2014 wef 03/01/2016]