Singapore legislation
Section 16A
Section 16A
Restrictions on acquisition of essential operating assets
(1)
A person must not acquire, on or after 13 September 2010, any essential operating asset of a rapid transit system, or an interest in an essential operating asset of a rapid transit system (whether or not the acquisition is by way of the enforcement of a loan security) unless —
the person is a licensee authorised by licence to operate that rapid transit system; or
the Authority consents in writing to the acquisition.
(2)
Any acquisition, or a purported acquisition, on or after 13 September 2010, of any essential operating asset of a rapid transit system or part thereof, or an interest in an essential operating asset of a rapid transit system or part thereof, in contravention of subsection (1) is void.
(3)
In this section, “essential operating asset”, in relation to any rapid transit system, means any land, plant, equipment, machinery or other property which —
is used or intended to be used (and whether or not it is also used for other purposes) by the licensee authorised by a licence to operate that rapid transit system; and
is designated by or under the licence to be an essential operating asset.