Mutual Benefit Organisations (MBOs) are membership-based entities which provide relief to their members. There are currently 70 MBOs in Singapore.
The MBOs are regulated by the Registry of the Mutual Benefit Organisations, under the Mutual Benefit Organisation Act (Cap 191) and the Mutual Benefit Organisation Rules. As a regulator, the Registry seeks to protect the collective interests of MBO members by promoting prudence and accountability for the use of the MBO funds by the office bearers in the MBOs.
The Registry also promotes sound management and governance of MBOs. This way, people in Singapore will have greater confidence in the MBOs to meet their needs, and lead to some volunteering their time in the governance or administration of the MBOs, thus building a gracious and caring society we call home.
The Ministry of Law, in consultation with relevant Government agencies, has extended the duration of legislation that enables entities to hold meetings via electronic means, to 30 June 2021. This provides MBOs with greater legal certainty to plan their meetings, and the option to hold virtual meetings to minimise physical interactions, amid the continuing COVID-19 situation.
To give a further grace period to MBOs who need more time to overcome practical difficulties in organising meetings, general meetings that are due to be held may be deferred to a date no later than 31 December 2020.
You may refer to the Ministry of Law’s press release issued on 29 September here.
The guidelines for MBOs on the conduct of virtual general meetings were updated on 21 October 2020.
The guidelines and templates for MBOs on the conduct of virtual general meetings were issued on 8 May 2020.
To facilitate the conduct of virtual general meetings by co-operatives, the “COVID-19 (Temporary Measures) (Alternative Arrangements for Meetings for Charities, Co-operative Societies and Mutual Benefit Organisations) Order 2020” (‘Order’) was issued on 27 April 2020.