Regulation 5

An entity (A) is exempt from section 19(1)(b) of the Act for ceasing, without the Minister’s approval, to be a Level Y controller of ExxonMobil Asia Pacific Pte. Ltd. (being a designated entity) by disposing of equity interests in, or by relinquishing control of voting power in, ExxonMobil Asia Pacific Pte. Ltd. if the condition mentioned in sub‑paragraph (3) is satisfied.

An entity (A) is exempt from section 19(1)(b) of the Act for ceasing, without the Minister’s approval, to be a Level Z controller of ExxonMobil Asia Pacific Pte. Ltd. by disposing of equity interests in, or by relinquishing control of voting power in, ExxonMobil Asia Pacific Pte. Ltd. if the condition mentioned in sub‑paragraph (3) is satisfied.

For the purposes of sub‑paragraphs (1) and (2), the condition is that, at the time A ceases to be a Level Y controller or Level Z controller (as the case may be) of ExxonMobil Asia Pacific Pte. Ltd., Exxon Mobil Corporation holds 100% of the total equity interests in, and controls 100% of the voting power in, ExxonMobil Asia Pacific Pte. Ltd.