Singapore legislation
Clause 13
Clause 13
Amendment of section 30D
Section 30D of the Electricity Act is amended —
by deleting paragraph (b) of subsection (1) and substituting the following paragraphs:“(b)in the case of a person who has obtained the Authority’s approval under section 30B(2) or who has been exempted from section 30B(2) under section 30CA —
the person is not or ceases to be a fit and proper person;
having regard to the person’s likely influence —
the designated electricity licensee or designated entity, as the case may be, is not, or is no longer, likely to conduct its business prudently or to comply with the provisions of this Act; or
the trustee-manager of the designated business trust is not, or is no longer, likely to conduct the business of the business trust prudently or to comply with the provisions of this Act; or
it is not, or is no longer, in the public interest to allow the person to continue to be a 12% controller, a 30% controller or an indirect controller, as the case may be;
(ba)in the case of a person who has obtained the Authority’s approval under section 30B(3) or who has been exempted from section 30B(3) under section 30CA, and who has acquired as a going concern a business mentioned in section 30B(3) —
the person is not or ceases to be a fit and proper person; or
it is not, or is no longer, in the public interest to allow the person to continue to own or manage that business;”;
by deleting the word “or” at the end of subsection (1)(c);
by deleting the full-stop at the end of paragraph (d) of subsection (1) and substituting the word “; or”, and by inserting immediately thereafter the following paragraph:“(e)any condition imposed on the person under section 30B or 30CA has not been complied with.”;
by deleting subsection (2) and substituting the following subsection:“(2) Where the person is a 12% controller, a 30% controller or an indirect controller of a designated electricity licensee, designated entity or designated business trust, the Authority may, by notice in writing —
direct the person to take such steps as are necessary, within such period as may be specified by the Authority, to ensure that the person ceases to be a 12% controller, a 30% controller or an indirect controller of the licensee, entity or business trust;
direct the person or any of the person’s associates to transfer or dispose of all or any of the equity interests in the licensee, entity or business trust held by the person or the person’s associate (called in this section and section 30E the specified equity interests) within such time and subject to such conditions as the Authority considers appropriate;
restrict the transfer or disposal of the specified equity interests; or
make such other direction as the Authority considers appropriate.”; and
by deleting the word “or” at the end of paragraph (a) of subsection (3), and by inserting immediately thereafter the following paragraph:“(aa)restrict the transfer or disposal of the business or any part of the business; or”.