Singapore legislation
Section 63C
of Gas Act 2001
Section 63C
Approval of applications under section 63B
(1)
The Authority may approve an application of a person for the Authority’s approval under section 63B(3) if the Authority is satisfied that —
the person is a fit and proper person;
having regard to the person’s likely influence —
the designated gas licensee or designated entity (as the case may be) will continue to conduct its business prudently and comply with the provisions of this Act; or
the trustee-manager of the designated business trust will continue to conduct the business of the business trust prudently and comply with the provisions of this Act; and
it is in the public interest to do so.
(2)
The Authority may approve an application for the Authority’s approval under section 63B(4) if the Authority is satisfied that —
the person acquiring the business is a fit and proper person;
the acquisition will not affect the security or reliability of the conveyance of gas to consumers’ premises; and
it is in the public interest to do so.
(3)
Any approval granted by the Authority under this section is without prejudice to the operation of Part 9.
(4)
Any approval by the Authority under this section may be granted subject to such conditions as the Authority may determine, including but not limited to any condition —
restricting the disposal or further acquisition of equity interests or voting power in the designated gas licensee, designated entity or designated business trust; or
restricting the exercise of voting power in the designated gas licensee, designated entity or designated business trust.
(5)
The Authority may at any time add to, vary or revoke any condition imposed under this section.
(6)
Any condition imposed under this section has effect despite the provisions of any other written law or anything contained in the memorandum or articles of association, trust deed or other constitution of the designated gas licensee, designated entity or designated business trust.