In forceAmended2020 Revised Edition

Contents

Maritime and Port Authority of Singapore Act 1996 · 2020 Revised Edition · Part 12A · Control of Designated Operating Entities and Designated Equity Interest Holders

86FA. Appointment of chief executive officer, chairperson, director, etc., of designated entity

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Amended

Last amended by an amending law of 2024.

(1)

A licensee-designated operating entity or, in the case of a licensee-designated operating entity that is a business trust, its trustee-manager, must not, on or after the effective designation date, appoint an individual as its chief executive officer, the chairperson of its board of directors or any of its directors, unless the licensee-designated operating entity or its trustee-manager (as the case may be) has obtained the prior written approval of the Authority.

(2)

Each of the following persons must not, on or after the effective designation date, appoint an individual as its chief executive officer or the chairperson of its board of directors unless the person has obtained the prior written permission of the Authority:

(a)

a non-licensee-designated operating entity or, in the case of a non-licensee-designated operating entity that is a business trust, its trustee-manager;

(b)

a designated equity interest holder or, in the case of a designated equity interest holder that is a business trust, its trustee-manager.

(3)

A person must not, on or after the effective designation date, be appointed as a manager of, or become a partner in, a limited liability partnership that is a designated entity unless the designated entity has obtained the prior written approval of the Authority.

(4)

A person must not, on or after the effective designation date, become a partner in a partnership that is a designated entity unless the person has obtained the prior written approval of the Authority.

(5)

The Authority may —

(a)

grant an approval under this section subject to any conditions that the Authority considers appropriate to impose; and

(b)

at any time add to, vary or revoke any condition so imposed.

(6)

Any person who contravenes subsection (1), (2), (3) or (4), or who fails to comply with any condition imposed under subsection (5), shall be guilty of an offence.

(7)

This section 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 the trustee-manager of the designated entity in relation to which the application for approval under subsection (1), (2), (3) or (4) is made.

(8)

In this section —

(a)

a reference to a “licensee-designated operating entity” is to a designated operating entity that is also —

(i)

the holder of a licence to provide any licensed service that is an essential transport service; or

(ii)

a business trust through which a trustee-manager provides any licensed service that is an essential transport service; and

(b)

a reference to a “non-licensee-designated operating entity” is to a designated operating entity that is not a licensee-designated operating entity.

Terms defined in this Act

Authority
Defined · s 2
“Authority” means the Maritime and Port Authority of Singapore established under section 4;
Open s 2
business trust
Defined · s 86A
“business trust” has the meaning given by section 2 of the Business Trusts Act 2004;
Open s 86A
Chairperson
Defined · s 2
“Chairperson” means the Chairperson of the Authority and includes any acting Chairperson of the Authority;
Open s 2
Chief Executive
Defined · s 2
“Chief Executive” means the Chief Executive of the Authority, and includes any individual acting in that capacity;
Open s 2
designated equity interest holder
Defined · s 86A
“designated equity interest holder” means a person that has been designated under section 86D to be a designated equity interest holder;
Open s 86A
entity
Defined · s 86A
“entity” includes a corporation and a limited liability partnership;
Open s 86A
limited liability partnership
Defined · s 86A
“limited liability partnership” has the meaning given by section 2(1) of the Limited Liability Partnerships Act 2005;
Open s 86A
officer
Defined · s 86A
“officer”, in relation to a corporation, includes —(a)a director or secretary of, or a person employed in an executive capacity by, the corporation;(b)any receiver or manager, or any receiver and manager, of any part of the undertaking of the corporation, appointed under a power contained in any instrument or by the General Division of the High Court or by the creditors;(c)any liquidator of the corporation appointed in a voluntary winding up or by the General Division of the High Court or by the creditors; and(d)any judicial manager of the corporation appointed under Part 7 of the Insolvency, Restructuring and Dissolution Act 2018;
Open s 86A
trustee‑manager
Defined · s 86A
“trustee‑manager” has the meaning given by section 2 of the Business Trusts Act 2004;
Open s 86A