Clause 38

in the definition of “12% controller”, replace “30% controller” with “25% controller”;

after the definition of “12% controller”, insert —“ “25% controller”, in relation to a designated gas licensee, designated entity or designated business trust, means a person, not being a 30% controller, who, alone or together with the person’s associates —

holds 25% or more of the total equity interests in; or

is in a position to control 25% or more of the voting power in,the designated gas licensee, designated entity or designated business trust;”;

in the definition of “30% controller”, after “person”, insert “, not being a 50% controller,”;

after the definition of “30% controller”, insert —“ “50% controller”, in relation to a designated gas licensee, designated entity or designated business trust, means a person, not being a 75% controller, who, alone or together with the person’s associates —

holds 50% or more of the total equity interests in; or

is in a position to control 50% or more of the voting power in,the designated gas licensee, designated entity or designated business trust;“75% controller”, in relation to a designated gas licensee, designated entity or designated business trust, means a person who, alone or together with the person’s associates —

holds 75% or more of the total equity interests in; or

is in a position to control 75% or more of the voting power in,the designated gas licensee, designated entity or designated business trust;”; and

replace the definition of “designated entity” with —“ “designated entity” means an entity, not being a gas licensee —

that owns a gas pipeline network (or any part of a gas pipeline network); or

which the Authority is satisfied —

will engage in (but has not yet commenced engaging in); or

is engaging in,an activity mentioned in section 6(1) that is critical to Singapore’s energy security and reliability,and is declared by the Minister to be a designated entity for the purposes of this Part;”.