Singapore legislation
Regulation 3
Regulation 3
Exemption from approval under section 26B(2), (3) or (4) of Act for control or consolidation
Subregulation 1
A person is exempt from the requirement to obtain prior written approval under section 26B(2) of the Act if the person will, by reason of a pro forma transaction within the meaning of paragraph 4, become a 12% controller or a 30% controller of a designated postal licensee.
Subregulation 2
A person who intends to enter into a pro forma transaction within the meaning of paragraph 4 that would constitute a consolidation with a designated postal licensee is exempt from the requirement to obtain prior written approval under section 26B(3) and (4) of the Act.