Singapore legislation
Clause 42
Clause 42
Airport licensee not to carry on non-airport business
(1)
Except with the prior approval of the Authority, an airport licensee for an airport shall not carry on substantial trading or financial activities other than —
(a)
activities relating to the operation of the airport;
(b)
activities incidental to the operation of the airport; and
(c)
activities that are consistent with the lease for the airport site and the master plan for that airport.
(2)
Subsection (1) shall not apply to a person who acquires the lease for an airport site by way of the enforcement of a loan security.
(3)
A contravention of this section shall not affect the validity of any transaction.