Significant Investments Review (Exemption — Exxon Mobil Asia Pacific Pte. Ltd.) Order 2024

In this Order —

In this Order, if —

In this Order, if —

An entity that becomes a Level A controller of ExxonMobil Asia Pacific Pte. Ltd. (being a designated entity) is exempt from the requirement under section 18(1) of the Act to give notice of that fact, if the conditions 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 A controller —

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) —

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.

Exxon Mobil Corporation is exempt from section 19(4) of the Act for any acquisition, without the Minister’s approval, as a going concern, of any part of the business or undertaking of ExxonMobil Asia Pacific Pte. Ltd. (being a designated entity) that does not consist of or include any interest in any asset used in the manufacture or production in Singapore of any critical fuel product.

An entity (B) is exempt from section 19(4) of the Act for any acquisition, without the Minister’s approval, as a going concern, of any part of the business or undertaking of ExxonMobil Asia Pacific Pte. Ltd. if —

To avoid doubt, ExxonMobil Asia Pacific Pte. Ltd. need not obtain the prior written approval of the Minister for an acquisition mentioned in sub‑paragraph (1) or (2).