Minutes of Meeting of AGM held on 22 Mar 2019

Singapore FinTech Association
Minutes of Annual General Meeting
Mar 22, 2019, 6 pm at 80 Robinson Road

  • At the scheduled time of 6 pm, given a lack of quorum, the meeting was adjourned for 30 minutes.
  • At 6.30 pm, with the required quorum of 30+ members/representatives, the Secretary called the meeting to order.
  • Secretary outlined the main purpose of the meeting:
    • Presentation of SFA’s year to date financials
    • SFA’s initiatives and progress since the last AGM
    • Constitutional Amendments
    • Resolution regarding Executive Committee election
  • President then shared a presentation on SFA’s progress and initiatives since the last AGM.
  • Secretary then outlined the proposed changes in the constitution, as is detailed below and asked all attending members to vote by a show of hands. The amendments were passed by a unanimous vote.

Current Wording
Proposed Wording
Article 3.1b
To represent the FinTech industry, uphold the integrity of its members, and support the building of relationships within the FinTech community, and collaborate with regional and as well as international FinTech organizations.
Article 3.1b
To represent the FinTech industry, uphold the integrity of its members, and support the building of relationships within the FinTech community, and collaborate with regional and as well as international FinTech organizations, and to associate or affiliate with the National Trades Union Congress and its affiliated unions and the Singapore Labour Foundation.

Current Wording
Proposed Wording
Article 10.3
The Financial Year shall be from 1st December to 30th November.
Article 10.3
The Financial Year shall be from 1st January to 31st December

This would be applicable from 2017 onwards.

  • Secretary then proposed a resolution with regard to Executive Committee elections, as is detailed below. All members present agreed to the resolution unanimously.
  • ‘Resolution to defer election: 
    • As per our Constitution, elections need to be held in an AGM.
    • As per RoS rules, AGM needs to be held within 3 months of financial year end.
    • However, the term of current Committee expires in Aug 2019.
    • Elections for next Committee will be held in June 2019, process and timelines will be announced in early April.
    • To align with RoS rules, subsequent election will be held in Mar 2021.
    • Members resolve that elections will be deferred to June 2019 as per above.
  • The Secretary then called the meeting to a close.

END

Umang Moondra
Secretary