Rapid Transit Systems Act 1995 · 2020 Revised Edition · Part 3A · Control of Designated Entities
21K. Duty of designated entity or trustee-manager to report changes of equity and control of certain persons
Feedback & supportLast amended by an amending law of 2024.
If a designated entity or, in the case of a designated entity that is a business trust, its trustee-manager, becomes aware that —
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;
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;
a person has, on or after the effective designation date, become an indirect controller of the designated entity; or
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.
Any person who contravenes subsection (1) shall be guilty of an offence.