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

86HB. Remedial directions relating to section 86FB

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Amended

Last amended by an amending law of 2024.

(1)

Subsection (2) applies where —

(a)

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

(b)

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

(i)

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

(ii)

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

(iii)

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 —

(a)

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;

(b)

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

(c)

issue any other direction that the Authority considers appropriate.

(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 operating entity in question.