Clause 39

Subsection (2) applies where —

an individual has been appointed in contravention of section 86FA(1) or (2), or a person has been appointed as a manager of or becomes a partner in a designated entity in contravention of section 86FA(3) or (4);

any condition of approval imposed under section 86FA(5) has not been complied with;

any of the following persons has provided false or misleading information or documents to the Authority in connection with an application for approval under section 86FA(1), (2), (3) or (4):

a designated entity;

the trustee-manager of a designated entity;

the person mentioned in section 86FA(4); or

the Authority would not have granted its approval under section 86FA(1), (2), (3) or (4) had it been aware, at the time of approval, of circumstances relevant to a person’s application for such approval.(2) The Authority may issue a direction to the designated entity or trustee‑manager (as the case may be) to do as follows (whichever is applicable):

remove the individual as the chief executive officer, the chairperson of the board of directors or a director of the designated entity or trustee‑manager, as the case may be;

remove the person as a manager of or partner in the designated entity.(3) A direction issued under this section (including a direction varied under section 86HC(2)) has effect despite the provisions of any other written law or anything contained in the memorandum or articles of association, limited liability partnership agreement, partnership contract, trust deed or other constitution, of the designated entity or trustee‑manager in question.(4) Nothing in subsection (2) is to be taken as depriving a person who is removed under that subsection of compensation or damages payable to the person in respect of the termination of his or her appointment as the chief executive officer, the chairperson of the board of directors, a director, or the person’s removal as a manager or partner.Remedial directions relating to section 86FB86HB.—

Subsection (2) applies where —

a person has contravened section 86FB(1); or

where the Authority has granted its approval under section 86FB(1) —

any condition of approval imposed under section 86FB(4) has not been complied with;

either of the joint applicants mentioned in section 86FB(1)(a) or (b) has provided false or misleading information or documents to the Authority in connection with the application for the approval; or

the Authority would not have granted its approval under section 86FB(1) had it been aware, at the time of approval, of circumstances relevant to the application for such approval.(2) The Authority may —

direct the person who has acquired as a going concern the business or part of the business mentioned in section 86FB(1) to transfer or dispose of all or any part of the business within such time and subject to such conditions as the Authority considers appropriate;

prohibit or restrict the transfer or disposal of all or any part of the business; or

issue any other direction that the Authority considers appropriate.(3) The Authority may —

direct the person who has acquired as a going concern a business or part of a business mentioned in section 86FB(1) to transfer or dispose of all or any part of the business within such time and subject to such conditions as the Authority considers appropriate;

prohibit or restrict the transfer or disposal of all or any part of the business; or

issue any other direction that the Authority considers appropriate.(4) A direction issued under this section (including a direction varied under section 86HC(2)) has effect despite the provisions of any other written law or anything contained in the memorandum or articles of association, limited liability partnership agreement, partnership contract, trust deed or other constitution, of the designated operating entity in question.Other provisions relating to remedial directions86HC.—

Before issuing any direction to a person under section 86G, 86HA or 86HB, the Authority must —

unless the Authority decides that it is not practicable or desirable to do so, give the person written notice of the Authority’s intention to issue the direction and specify a date by which the person may make written representations with regard to the direction; and

consider every written representation from the person received on or before the specified date mentioned in paragraph (a).(2) The Authority may, at any time, revoke, vary or discharge, or suspend the operation of, any direction given by it under section 86G, 86HA or 86HB.(3) Any person who fails to comply with a direction issued by the Authority under section 86G, 86HA or 86HB (including a direction that is varied under subsection (2)) within the period specified by the Authority shall be guilty of an offence.Appeals to Minister under this Part86HD.—

Any person who is aggrieved by a decision of the Authority —

to designate an entity under section 86D;

to refuse to grant an approval required under section 86F, 86FA or 86FB;

to impose, add to or vary any condition under section 86F, 86FA or 86FB; or

to issue a direction under section 86G, 86HA or 86HB or to vary a direction under section 86HC,may, within 14 days after being informed of the decision, appeal to the Minister whose decision is final.(2) An appeal against the Authority’s decision does not affect the operation of the decision appealed against or prevent the taking of action to implement the decision, and unless otherwise directed by the Minister, the decision appealed against must be complied with until the determination of the appeal.Designation of others to hear appeals under this Part86HE. The Minister may designate any Minister of State, Senior Minister of State, Parliamentary Secretary or Senior Parliamentary Secretary for his or her Ministry, to hear and determine, in the Minister’s place, any appeals or a specific appeal under section 86HD; and any reference in that section to the Minister includes a reference to the Minister of State, Senior Minister of State, Parliamentary Secretary or Senior Parliamentary Secretary so designated for that appeal.”.