4. Exemption from section 19(1)(a) of Act

An entity is exempt from section 19(1)(a) of the Act for becoming, without the Minister’s approval, a Level B controller, Level C controller or Level D controller of ExxonMobil Asia Pacific Pte. Ltd. (being a designated entity) if all the conditions mentioned in sub‑paragraph (2) are satisfied.

For the purposes of sub‑paragraph (1), the conditions are that, at the time the entity becomes a Level B controller, Level C controller or Level D controller (as the case may be) —

ExxonMobil Holdings Corporation holds 100% of the total equity interests in, and controls 100% of the voting power in, ExxonMobil Asia Pacific Pte. Ltd.;

ExxonMobil Holdings Corporation holds 100% of the total equity interests in, and controls 100% of the voting power in, the entity becoming a Level B controller, Level C controller or Level D controller (as the case may be); and

the entity becoming a Level B controller, Level C controller or Level D controller (as the case may be) is not subject to any law in any jurisdiction (including any law relating to export control or control of production) that prohibits or restricts the manufacture or production of critical fuel products in Singapore.

An entity is exempt from section 19(1)(a) of the Act for becoming, without the Minister’s approval, a Level B controller, Level C controller or Level D controller of ExxonMobil Asia Pacific Pte. Ltd. (being a designated entity) if all the conditions mentioned in sub‑paragraph (2) are satisfied.

For the purposes of sub‑paragraph (1), the conditions are that, at the time the entity becomes a Level B controller, Level C controller or Level D controller (as the case may be) —

ExxonMobil Holdings Corporation holds 100% of the total equity interests in, and controls 100% of the voting power in, ExxonMobil Asia Pacific Pte. Ltd.;

ExxonMobil Holdings Corporation holds 100% of the total equity interests in, and controls 100% of the voting power in, the entity becoming a Level B controller, Level C controller or Level D controller (as the case may be); and

the entity becoming a Level B controller, Level C controller or Level D controller (as the case may be) is not subject to any law in any jurisdiction (including any law relating to export control or control of production) that prohibits or restricts the manufacture or production of critical fuel products in Singapore.