Singapore legislation
Clause 5
Clause 5
Functions of Board
(1)
The Board has the following functions:
to enable Singapore‑based enterprises and other enterprises requiring assistance to create and expand their businesses in domestic and foreign markets;
to enhance the business environment in Singapore and Singapore’s global and regional connectivity, for Singapore‑based enterprises to create and expand their businesses in foreign markets;
to promote and facilitate trading in any goods, or derivatives contracts in respect of one or more commodities;
in relation to commodity trade and industry —
to regulate the rubber trade and industry; (ii)to regulate spot commodity trading; and
to promote, develop and maintain the commodity trade and industry in Singapore, including any market involving derivatives contracts in respect of one or more commodities;
to serve as the national productivity, innovation, standards and accreditation body, which seeks to raise total factor productivity and improve Singapore’s competitiveness;
to administer the Weights and Measures Act (Cap. 349);
to cooperate and collaborate with the SkillsFuture Singapore Agency established by section 3 of the SkillsFuture Singapore Agency Act 2016 (Act 24 of 2016), and the Workforce Singapore Agency established by section 3 of the Workforce Singapore Agency Act (Cap. 305D), in the discharge of their respective functions under those Acts;
to represent Singapore internationally in matters relating to —
trade; and
productivity, innovation, standards, accreditation and conformity assessment;
to advise and assist the Government, any public authority or any industrial, commercial, trading or other organisation, on matters relating to —
the development or regulation of trade, including commodity trade and industry, and to act as agent for the Government or for any person, body or organisation on such matters; and
productivity, innovation, standards and accreditation;
to perform such other functions as may be conferred on the Board by or under any other Act.
(2)
In performing the functions conferred on the Board by subsection (1), the Board must have regard to the policies and directions of the Research, Innovation and Enterprise Council established by the National Research Fund Act (Cap. 201A).
(3)
The Board may also undertake such other functions as the Minister may, by notification in the Gazette, assign to the Board, and in so undertaking —
the Board is deemed to be fulfilling the purposes of this Act; and
the provisions of this Act apply to the Board in respect of those other functions.
(4)
Nothing in this section imposes on the Board, directly or indirectly, any form of duty or liability enforceable by proceedings before any court to which the Board would not otherwise be subject.