Singapore legislation
Section 31F
Section 31F
Who may be licensed
(1)
A person who applies for a licence shall be eligible to be granted a licence if, and only if —
the person is neither a company limited by guarantee nor a corporation sole;
the Authority is satisfied that the person is duly authorised to carry on the business of an importer of essential construction materials; and
the person furnishes a procurement plan regarding the import of essential construction materials, stating —
the types of essential construction materials proposed to be procured by that person;
the respective sites from which the essential construction materials are to be extracted or won;
the methods or practices to be applied by that person in procurement;
the risks (including assessments thereof) of any disruption occurring to the import of the relevant essential construction materials from the markets from which the relevant essential construction materials are to be procured; and
any plan of action (including preventive strategies) for the purpose of ensuring, so far as is reasonably practicable, that the person can still provide a secure and reliable supply in Singapore of the relevant essential construction materials of acceptable quality or of otherwise reducing or mitigating the effect of any disruption to the supply of the relevant essential construction materials from any such market from which the relevant essential construction materials are to be procured.
(2)
In deciding whether to grant a licence, the Authority may make inquiries and investigations that are reasonable and appropriate in the circumstances so as to be satisfied as to —
the general character of the management of the applicant;
the financial condition of the applicant;
the experience and resources of the applicant in providing a secure and reliable supply in Singapore of essential construction materials of acceptable quality; and
whether the public interest will be served by the granting of the licence.
(3)
The Authority may require an applicant for a licence to satisfy the Authority that the applicant has sufficient material and financial resources available to enable the applicant to meet his or its financial obligations as and when they become due, and may refuse to grant a licence to an applicant who fails to so satisfy it.