Singapore legislation

Clause 45

of Singapore Overseas Telecommunication Board Ordinance

Clause 45

Ownership of the undertaking of the Board and purchase thereof

The ownership of the undertaking of the Board as provided for in subsection (3) of section 3 of this Ordinance shall subsist for a period of ten years after which the Government shall be empowered to vary or terminate such ownership. Notice in writing shall be served on the Company two years prior to such proposed variation or termination and in such event the share and interest of the Company in the undertaking of the Board shall be purchased by the Government in whole or in part, as the case may be, at a price to be determined in relation to the value of such undertaking at the material time.