Singapore legislation

Regulation 6

of Postal Services (Control of Designated Postal Licensees) Regulations 2012

Regulation 6

Notice by designated postal licensee

Subregulation 1

For the purposes of section 26B(1) of the Act, a designated postal licensee shall give notice in writing to the Postal Authority on the occasion when a person, whether by a series of transactions over a period of time or otherwise —

(a)

first acquires 5% or more but less than 12% of the voting shares in the designated postal licensee; or

(b)

first controls 5% or more but less than 12% of the voting power in the designated postal licensee,within a period of 5 working days after the designated postal licensee first becomes aware of the acquisition or control, as the case may be.

Subregulation 2

The notice in paragraph (1) shall be in such form as may be approved by the Postal Authority.

Subregulation 3

Every notice under paragraph (1) shall —

(a)

contain the name, address and contact information of the person who has acquired the 5% or more but less than 12% of the voting shares in the designated postal licensee or who controls 5% or more but less than 12% of the voting power in the designated postal licensee, as the case may be;

(b)

specify —

(i)

the percentage of voting shares in the designated postal licensee acquired by the person, and the class, number and percentage of voting shares held by the person immediately before he first acquires 5% or more but less than 12% of the voting shares in the designated postal licensee; or

(ii)

the percentage of voting power controlled by the person, and the percentage of voting power controlled by the person immediately before he first controls 5% or more but less than 12% of the voting power in the designated postal licensee;

(c)

specify the effective date of acquisition of the shares or control; and

(d)

contain such other particulars and information as the Postal Authority may require in any particular case.

Subregulation 4

The Postal Authority may permit notices under paragraph (1) to be given by any means, including electronic means, that it thinks fit.

Read in full context — Postal Services (Control of Designated Postal Licensees) Regulations 2012 →