Singapore legislation
Clause 33
of Gas Bill
Clause 33
Special administration order
(1)
A special administration order is an order of the Minister made in accordance with section 34 in relation to a gas transporter directing that, during the period for which the order is in force, the affairs, business and property of that gas transporter shall be managed directly or indirectly by the Authority —
for securing one or more of the purposes of such an order set out in subsection (2); and
in a manner which protects the respective interests of the shareholders and creditors of the gas transporter and relevant shippers.
(2)
The purposes referred to in subsection (1)(a) are —
the security and reliability of the conveyance of gas by the gas transporter to consumers’ premises;
the survival of the gas transporter or the whole or part of its licensed gas business, as a going concern;
the transfer to another company, or (as respects different parts of the area to which the gas transporter’s licence relates, or different parts of its licensed gas business) to 2 or more different companies, as a going concern, of so much of the gas transporter’s licensed gas business as is necessary to transfer in order to ensure that the functions and duties which have been vested in the gas transporter by virtue of its licence may be properly carried out; or
the carrying out of the functions and duties which have been vested in the gas transporter pending the making of the transfer and the vesting of those functions and duties in the other company or companies.
(3)
The Minister may make regulations for giving effect to this section and section 34, including regulations governing the transfer of the licensed gas business referred to in subsection (2)(c), and making provision for applying, omitting or modifying provisions of Part VIIIA of the Companies Act (Cap. 50) where a special administration order is made.