Clause 18

in section 37(13), replace “in a general meeting of the designated telecommunication licensee, designated business trust or designated trust, as the case may be.” with —“in —

a general meeting of the designated telecommunication licensee;

in the case of a designated telecommunication licensee, designated business trust or designated trust that is a business trust — a general meeting of the unitholders of the business trust; or

in the case of a designated trust, a general meeting of the beneficiaries of the trust in question.”;

in section 37, replace subsection (14) with —“(14) For the purposes of subsection (13), any control of any voting power by a person in a designated telecommunication licensee, designated business trust or designated trust is not to be regarded as control of voting power by the person if it is exercisable in the following capacities of the person:

by virtue of the person holding an interest in a share of the designated telecommunication licensee, a unit of the designated business trust or an equity interest in the designated trust (as the case may be) as a bare trustee;

if the person’s ordinary business includes the lending of money, by virtue of the person holding an interest in a share of the designated telecommunication licensee, a unit of the designated business trust or an equity interest in the designated trust (as the case may be) only by way of security for the purposes of a transaction entered into in the ordinary course of business in connection with the lending of money;

if the person’s ordinary business includes the underwriting of securities, by virtue of the person holding an interest in a share of the designated telecommunication licensee, a unit of the designated business trust or an equity interest in the designated trust (as the case may be) only as an underwriter or a sub‑underwriter to any offering of shares of the designated telecommunication licensee, units of the designated business trust or equity interests in the designated trust, as the case may be;

by virtue of the person having been appointed a proxy or representative to vote at a general meeting mentioned in subsection (13);

in the person’s capacity as a liquidator, the Official Receiver, the Official Assignee or the Public Trustee;

by reason of the person holding such other office as may be prescribed for the purposes of section 7(9)(c) of the Companies Act 1967.”;

in subsection 38(9), delete “for the purposes of this subsection”;

in subsection 38(10) to (13), replace “prescribed by the Minister for the purposes of this subsection by order in the Gazette” with “prescribed under subsection (9)”;

in section 40, after subsection (10), insert —“(11) A reference in this section to the issuing of a direction includes a varying of that direction.”;

in section 42, replace subsection (1) with —“(1) Without affecting sections 31 and 78, the Authority may, by written notice —

direct any designated telecommunication licensee, trustee‑manager of any designated business trust or trustee of any designated trust to obtain from a holder of shares, units or equity interests in the designated telecommunication licensee, designated business trust or designated trust (as the case may be) and to provide to the Authority within such time as may be specified in the notice, any information relating to the holder that may be required to ascertain or investigate the holding of shares, units or equity interests or control of voting power in the designated telecommunication licensee, designated business trust or designated trust (as the case may be) for the purposes of this Part; and

direct any person to provide to the Authority, within such time as may be specified in the notice, any information required to ascertain or investigate the holding of any shares, units or equity interests or control of voting power in a designated telecommunication licensee, designated business trust or a designated trust for the purposes of this Part.”;

in section 92(3)(c)(iv), after “paragraph (a)”, insert “, including the payment of consideration by the transferee to the relevant telecommunication licensee”;

in section 92(6), replace paragraph (b) with —“(b)the provisions of the memorandum or articles of association, trust deed, partnership agreement, limited liability partnership agreement, or other constitution or equivalent instrument, of the relevant telecommunication licensee.”;

in section 92(12), replace “must be” with “is to be charged on and”;

in section 92(19), after the definition of “business”, insert —“ “consideration”, in relation to a transfer of any business or property of a relevant telecommunication licensee, means the payment of monetary or other consideration by the transferee or any person on the transferee’s behalf to the relevant telecommunication licensee for the transfer of the whole or any part of the business or property of the relevant telecommunication licensee;”;

in section 92, after subsection (19), insert —“(20) A reference in this section to the issuing of a separation order includes a varying of that order.”; and

in section 97(2), after paragraph (g), insert —“(ga)the prescribing of any rate of interest for any provision of this Act, which may be by way of formula or other method, and which may incorporate by reference any formula or method of another body or organisation, as may be amended from time to time;”.