Singapore legislation

Clause 32

of Transport Sector (Critical Firms) Bill

Clause 32

Amendment of section 86C

In the MPA Act, in section 86C(1) —

(a)

in paragraph (q), delete “or” at the end; and

(b)

replace paragraph (r) with —“(r)A is a person with whom B enters, or proposes to enter, into an agreement or arrangement (whether oral or in writing and whether express or implied) that relates to any of the following matters:

(i)

A and B being in a position, by acting together, to control any of the voting power in a designated entity;

(ii)

A and B acting together with respect to the acquisition, holding or disposal of equity interests or other interests in a designated entity;

(iii)

the power of A and B, by acting together, to appoint or remove —

(A)

a director of a designated entity; or

(B)

in the case of a designated entity that is a business trust — a director of the trustee‑manager of the designated entity;

(iv)

the situation where one or more of the directors of —

(A)

a designated entity; or

(B)

in the case of an entity that is a business trust — the trustee‑manager of the business trust,are accustomed or under an obligation (whether formal or informal) to act in accordance with the directions, instructions or wishes of A and B acting together;

(s)

A controls more than half of the voting power of a holding company of B;

(t)

B controls more than half of the voting power of a holding company of A; or

(u)

A is related to B in such other manner as may be prescribed by regulations made under section 119.”.

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