Singapore legislation
Clause 11
Clause 11
New section 63CA
The Gas Act is amended by inserting, immediately after section 63C, the following section:“Regulations for carrying out sections 63B and 63C63CA.—
The Authority may, with the approval of the Minister, make such regulations under section 96 as are necessary or expedient for carrying out the purposes of sections 63B and 63C.(2) Without limiting subsection (1), the regulations may prescribe —
the meaning of equity interest and the circumstances under which a person is treated as holding a percentage of the total equity interest in a designated gas licensee, a designated entity or a designated business trust;
the circumstances under which a person is treated as being in a position to control a percentage of the voting power in a designated gas licensee, a designated entity or a designated business trust;
the circumstances under which a person is treated as having acquired as a going concern a business mentioned in section 63B(3);
the circumstances under which a person is treated as being an associate for the purposes of sections 63A, 63E and 63G; and
the manner in which any notice or application under section 63B must be given or made, and the person or persons who must give the notice or make the application.”.