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In forceAmended2020 Revised Edition
Contents

Part 3A · Control of Designated Entities

21K. Duty of designated entity or trustee-manager to report changes of equity and control of certain persons

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Amended

Last amended by an amending law of 2024.

(1)

If a designated entity or, in the case of a designated entity that is a business trust, its trustee-manager, becomes aware that —

(a)

a person has, on or after the effective designation date, become a 5% controller, 25% controller, 50% controller or 75% controller of the designated entity;

(b)

a 25% controller, 50% controller or 75% controller of the designated entity has, on or after the effective designation date, ceased to be a 25% controller, 50% controller or 75% controller (as the case may be) of the designated entity;

(c)

a person has, on or after the effective designation date, become an indirect controller of the designated entity; or

(d)

in a case where the designated entity is a designated operating entity — a person has, on or after the effective designation date, acquired, as a going concern, the designated operating entity’s business of providing any essential transport service (or any part of such business),the designated entity or trustee-manager (as the case may be) must inform the Authority in writing within 7 days after becoming aware of that fact.

(2)

Any person who contravenes subsection (1) shall be guilty of an offence.

Report

Part 4

Safety of Railway

Part 4A

Special Administration Orders and Schemes of Transfers, Etc., for Licensees and Designated Operating Entities

Part 5

Appeals

Part 6

Miscellaneous

Schedules