Singapore legislation

Clause 31

of Transport Sector (Critical Firms) Bill

Clause 31

Amendment of section 86B

In the MPA Act, in section 86B —

(a)

in subsection (1)(a), replace “subsections (2) to (7)” with “subsections (2) to (8)”;

(b)

in subsection (6), replace paragraph (d) with —“(d)is entitled (otherwise than by reason of having been appointed a proxy or representative) to vote at —

(i)

a general meeting of the designated entity; or

(ii)

in the case of a designated entity that is a business trust — a general meeting of the unitholders of the business trust,to exercise or control the exercise of a right attached to the equity interest, not being an equity interest in which that person has a legal or equitable interest.”; and

(c)

after subsection (7), insert —“(8) An equity interest is not to be disregarded by reason only of —

(a)

its remoteness;

(b)

the manner in which it arose; or

(c)

the fact that the exercise of a right conferred by the equity interest is, or is capable of being made, subject to restraint or restriction.”.

Read in full context — Transport Sector (Critical Firms) Bill →