新加坡交通部長徐芳達在國會提出交通領域（關鍵企業）法案二讀，並回答議員提問。

以下內容為新加坡眼根據國會英文資料翻譯整理：

交通領域（關鍵企業）法令二讀（1）

徐芳達（交通部長）：議長先生，我謹提出動議：「本法案現在予以二讀」。

連通性對新加坡和我們的經濟至關重要。許多新加坡人的日常活動都依賴公共運輸。2023年，我國每天有700多萬人次乘坐公共巴士和地鐵，為全國數百萬乘客提供服務。我們也依靠我們的海空交通來運送必需品，支持我們的工業增長，並將新加坡人與世界其他地區聯繫起來。

去年，樟宜機場接待了約5900萬名旅客。目前，我們通過近120家航空公司與約420個城市相連。作為世界上最繁忙的港口之一，我們的海運樞紐是全球供應鏈的關鍵節點。我們的港口與全球 600 個港口相連，2023 年，我們的貨櫃吞吐量達到了 3,900 萬個 20 英尺等量單位的新高。

我們與世界的連接不僅在和平時期至關重要。在COVID-19大流行期間，正是由於我們與區域內外的緊密聯繫，新加坡才能接收和發送關鍵物資，包括食品和醫療必需品。在新加坡，我們通過保持公共運輸服務的正常運行，努力維持互聯互通，使我們的重要工作人員能夠繼續上班，抗擊危機，維持國家的運轉。

如果沒有在任何時候和任何情況下，包括在危機期間，安全可靠地提供必要的海陸空運輸服務，就無法取得所有這些好處。議長先生，因此，今天提出的法案，旨在制訂措施，加強新加坡基本運輸服務的應變能力，並奠定基礎，保障新加坡的基本運輸公司，免受日後可能出現的干擾。我們的目標是幫助新加坡為將來可能發生的極端情況做好準備，以便我們能夠應對這些風險。

例如，我們不能排除惡意行為者獲得控制權並對我們的主要運輸實體產生不利影響的風險，從而危及新加坡基本運輸服務的提供。我們與運輸生態系統中的公司建立了牢固的關係，並在和平時期和危機（如 COVID-19 大流行病）期間與它們密切合作，為新加坡提供安全、可靠和高效的服務，我們希望確保他們未來幾年繼續這樣做。

我們並不是唯一一個採取行動保障基本運輸服務的國家。其他國家也採取了措施保護其戰略資產。2021 年，英國通過了《國家安全與投資法》，允許政府干預某些可能損害英國國家安全的收購行為。在美國，2018 年通過了《外國投資風險審查現代化法案》，擴大了美國外國投資委員會的管轄權，以解決對外國投資美國公司或業務日益增長的國家安全擔憂。

[副議長迪舒沙主持會議］

新加坡已經制定了相關法規來保護我們的一些重要部門。例如，《銀行法》和《電信法》規定，在獲得持牌人一定比例的股份或投票權之前，以及在任命執行長等關鍵人員之前，必須獲得批准。《電力法》和《公用事業法》也提供了類似的槓桿，以保障新加坡電力和水的管理和供應，確保這些供應始終可用。

最近，貿工部通過了《重大投資審閱法》（SIRA），為政府提供了一套最新的監管手段，以管理對關鍵實體的重大投資所帶來的威脅。同樣，交通部（MOT）也希望提出一些措施，以確保我們的重要交通系統現在和將來都能有效地為新加坡和新加坡人服務。

副議長先生，請允許我解釋一下，為什麼我們要通過本法案引入一個針對具體運輸部門的監管框架，該框架在海陸空運輸部門都是一致的，而不是通過像《重大投資審閱法》這樣一個基礎廣泛的立法。針對特定行業的方法，能讓我們更好地為新加坡的運輸生態系統定製所需的監管，並在這些目標與對運輸實體及其投資者的商業和業務影響之間取得平衡。

因此，我們在設計我們的規章時，採取了有針對性的方式。擬議的《法案》並不尋求對我們各實體日常運營的標準和績效進行監管。相反，它旨在保護主要運輸實體免受惡意行為者對這些實體施加不當影響的風險，並確保這些實體作出的商業決策不會危及它們在新加坡提供基本運輸服務的能力。

一些實體可能參與提供運輸以外的其他服務，如餐飲或廣告服務。本法案的重點不是監管這些服務，而是針對實體中直接在新加坡提供基本運輸服務的部分。

此外，我們也認識到不同的實體在提供一系列服務方面扮演著不同的角色。自去年以來，交通部一直在與主要運輸實體接觸，以更好地了解如何切實執行法規。我們在設計本法案時採納了他們的反饋意見，並考慮到了商業影響。因此，交通部將根據各實體的角色、責任和職能，對一些管制措施加以區分，我將在稍後的發言中詳細闡述。

最後，本法案旨在統一我國交通運輸業的法律，減輕各實體在發展過程中的監管負擔，並使新加坡交通運輸生態系統中的商業和投資管制更加一致。本法案旨在引入一個涵蓋海陸空運輸持牌人和非持牌人的共同制度，以實行一套一致的監管措施，並為各實體創造一個透明和可預測的監管環境。

副議長先生，我現在講述本法案的要點。《交通領域（關鍵公司）法案》對下列法案進行了修訂：《巴士服務業法令》（BSI Act）、《新加坡民航局法令》（CAAS Act）、《新加坡海事與港務管理局法令》（MPA Act）和《快捷交通系統法令》（RTS Act）。

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這些法令經修訂後，將繼續由這些法令的相關主管部門，即新加坡民航局 （CAAS）、新加坡陸路交通管理局(LTA) 和新加坡海事與港務管理局（MPA）負責管理。這些機構還將負責指定框架下的相關實體。

請允許我解釋一下我們計劃如何將受影響的實體分類。副議長先生，本法案並非打算適用於在新加坡提供運輸服務的所有機構。相反，我們將採取有針對性的方法，對運輸部門內符合以下標準的實體進行管制：首先，它們參與提供空中、陸地或海上運輸部門的基本運輸服務；其次，它們在該部門內具有戰略重要性，例如，如果它們提供的服務因占據重要市場份額或具有專門技術而不容易被取代。

本法案第 3、19、30 和 47 條以及新的附表列出了新加坡海陸空運輸網絡所需的主要服務，從而確定了每個行業中「基本運輸服務 」的定義。在陸路方面，我們打算包括公共巴士和地鐵服務等。在航空方面，我們計劃包括樟宜機場的機場和地勤業務以及客運和貨運航空服務等。在海運方面，我們計劃包括港口和海運服務及設施，以及支持海上運輸的服務，如供水和加油。

本法案第 8、23、33 和 52 條增加了一些條款，授權監管當局指定在新加坡參與提供基本運輸服務的實體。如果實體直接在新加坡提供任何必要的運輸服務，並且在該行業中具有重要戰略意義，則可被指定為」指定經營實體」；如果實體持有指定經營實體的股權，並且對其作為指定經營實體的子公司有很強的控制聯繫，則可被指定為「指定股權持有人」。

這是因為這些個人或組織可能會影響與新加坡提供基本交通服務有關的關鍵決策。在我餘下的發言中，我將把「指定經營實體 」和「指定股本權益持有人 」統稱為「指定實體」，否則會很拗口。

指定程序會在法案通過並生效後展開。如果議會批准該法案，我們打算在今年年底前指定相關企業。指定通知將指明指定公司的日期，並將在指定日期前至少 14 天在公報上公布。《巴士服務法令》新增的第 28E 條、《新加坡民航局法令》新增的第 64 條、經修訂的《新加坡海事與港務管理局法令》第 86D 條以及《快捷交通系統法令》新增的第 21E 條對此均有規定。

該法案將在四個法案中引入三個方面的立法槓桿：所有權控制；管理層任命控制；以及運營和資源配置控制。

公司所有權允許各方對公司的方向、管理和決策施加影響。該法案將通過以下要求，允許相關部門對指定實體實際控制權的重大變化進行監督：任何人成為指定企業 5%的控制人，即我們認為某人是公司大股東時，必須在成為 5%控制人後七天內通知相關部門。

任何人如打算成為或不再成為指定企業 25%、50% 或 75%的控制人，必須徵得有關當局的批准。在這些持股水平上，控制人對公司擁有重大影響力，如通過和阻止普通決議和特別決議的能力。此外，以下情況也必須徵得相關部門的批准：

第一，任何人打算成為間接控制人，即能夠對指定實體的董事或受託管理人施加控制的人；或者，任何人打算收購指定經營實體與提供基本運輸服務有關的任何部分業務，並在不中斷的情況下繼續經營。這樣做是為了讓有關當局對該實體或其部分的所有收購進行監督，無論其服務規定是否有重大變化。

最後，指定實體必須在意識到我剛才描述的任何所有權變化後七天內通知有關當局。

第二套管制措施涉及指定實體對管理層的任命。這些管制措施使有關當局能夠隨時了解負責管理我們重要運輸公司的關鍵人員的變動情況，以及影響繼續提供必要運輸服務的業務情況。

本法案將規定，指定實體須就其行政總裁及董事會主席的委任，徵求有關當局批准；而同時為持牌人的指定營運實體，則須就其行政總裁、董事會主席及所有董事的委任，徵求有關當局批准。

最後，本法案將引入對運營和資源配置的控制，以確保公司在任何情況下，包括危機時期和每個行業發生重大變化時，都有能力運營其服務。我們建議，指定實體應在出現重大事態發展或事件時通知各自的主管部門，以便相關主管部門隨時了解可能嚴重妨礙或損害新加坡基本運輸服務的事件，並能在必要時儘早採取緩解措施。

雖然目前各部門的許可制度也可能包括通知要求，但本法案將所有運輸部門對指定實體的通知要求編纂成法。該法案將要求指定實體向有關當局通報此類事件，例如，如果指定經營實體將在新加坡提供基本運輸服務的重要職能外包，或如果它們面臨可能損害或阻礙在新加坡提供基本運輸服務的重要事件或法律訴訟，類似的這類事件，將有所約束。

為幫助公司遵守這些要求，相關部門將在法案獲得國會批准並生效後發布一套諮詢指南。這些諮詢準則將為這些通知要求提供實際指導。我們已在本法案第 13、25、41 和 55 條對此作出規定。

其次，該法案增加了一些條款，通過特別行政令，擴大相關部門的介入權力，以涵蓋海陸空運輸部門的指定經營實體和持證人。這是為了在極端情況和不大可能發生的事件中保障服務的連續性，例如指定經營實體或持牌人無法安全可靠地提供必要的運輸服務。

目前，有關當局可以向持牌者發出特別管理令，作為極端情況下的保障措施。本法案所賦予的介入權力，範圍與此相似，即適用於在新加坡直接提供基本運輸服務的指定經營實體，但這些實體並非持牌人。

副議長先生，我想向各位議員保證，行使介入權力是處理極端的情況的最的手段。這些權力旨在保障新加坡基本交通服務的提供。舉例來說，當某個指定經營機構無力償債，以致無法繼續提供基本運輸服務時，我們便會行使介入權力。我們不會幹預這些實體在正常業務過程中的商業運作和事務。

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如果我們需要使用擬議的介入權力，我們將明智地行使這些權力，而且只在需要的期限內行使。該法案中《巴士服務法令》新增的第 33E 條、《新加坡民航局法令》新增的第 75 條、《新加坡海事與港務管理局法令》新增的第 89B 條以及《快捷交通系統法令》新增的第 27D 條，更新了現行法律中的相關規定。例如，《法案》將規定發布輔助指令，明確介入令的生效期限以及其他相關條件，以便在行使介入權時實現介入令的目的。

最後，業務連續性規劃要求。該法案賦予民航局對航空運輸部門指定運營實體的業務連續性規劃提出要求的權力。它們不適用於指定的股權持有人。該法案不包括對陸上和海上運輸部門指定經營實體的這些要求，因為我們可以通過許可證條件對其進行類似的要求。

我現在談談法案的一般及雜項條文，法案容許有關當局就違反與擁有權和管理層委任等有關的管制發出補救指示。這些補救指示可包括在事前未徵得批准或違反批准條件的情況下，指示處置股本權益及罷免主要委任人士。

法案將採用以下懲罰措施來執行該制度。我們已規定了對違反任何控制的處罰。包括與所有權、管理層任命和某些事件的通知要求有關的批准條件、違反任何補救指示，以及不遵守特別行政令所規定的職責。

處罰措施將參照現行法案的處罰措施，並考慮到各部門的經營環境。經修訂的《巴士服務法令》第 41 條、《新加坡民航局法令》新增的第 67K 條、《新加坡海事與港務管理局法令》新增的第 86HD 條以及《快捷交通系統法令》新增的第 28 條規定了針對相關部門作出的某些決定向部長提出上訴的途徑，包括指定實體、拒絕給予控制所有權或管理任命所需的批准以及發布補救指令。

副議長先生，我想強調一點，交通部將會在委員會審議階段提出修正通知書，以處理兩項起草變更問題。首先，我們要求修訂第39 條，以刪除《新加坡海事與港務管理局法令》新訂的第 86HB 條第(3)款，因為根據該條第(2)款的規定，第(3)款並無必要。其次，我們建議對第 19 條作出技術性修訂，使分段的編號與現行法案的草擬方式一致。

副議長先生，新加坡的連通性是我們最大的資產之一，我們必須繼續小心維護，以保護新加坡和新加坡人的利益。我們將以審慎和有針對性的方式，在對我們的運輸業有用和實際可行，以及儘量減少對公司和投資者的商業和成本影響之間取得平衡。我們會繼續與業界及有關人士緊密合作，以實施這基法案。議長先生。我謹提出以上動議。

以下是英文質詢內容：

TRANSPORT SECTOR (CRITICAL FIRMS) BILL（1）

Order for Second Reading read.

The Minister for Transport (Mr Chee Hong Tat): Mr Speaker, I beg to move, 「That the Bill be now read a Second time」.

Connectivity is essential to Singapore and our economy. Many Singaporeans rely on public transport for our daily activities. In 2023, we had over seven million daily rides on our public buses and trains, serving millions of commuters across the country. We also rely on our air and sea connectivity to bring in essential goods, support the growth of our industries and connect Singaporeans with the rest of the world.

Last year, Changi Airport served about 59 million passengers. We are now connected to about 420 cities through almost 120 airlines. As one of the busiest ports in the world, our maritime hub is a key node in global supply chains. Our port is linked to 600 ports around the world and in 2023, our container throughput reached a new high of 39 million, 20-foot equivalent units.

Our connectivity to the world is critical not just during peacetime. During the COVID-19 pandemic, it was our strong connectivity to the region and beyond that allowed Singapore to receive and send out critical supplies, including food and medical essentials. Within Singapore, we worked hard to maintain connectivity by keeping our public transport services running, so that our essential workers could continue to go to work to fight the crisis and keep the country going.

All these benefits cannot be achieved without the safe and reliable provision of essential air, land and sea transport services at all times and under all circumstances, including during a crisis. Sir, the proposed Bill today therefore aims to put in place measures to enhance the resilience of essential transport services in Singapore and set the foundations to protect Singapore against possible future disruptions to our essential transport firms. Our objective is to help Singapore prepare for possible extreme scenarios that may happen in future, so that we are ready for these risks.

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For example, we cannot rule out the risk of malicious actors gaining control and adversely influencing our key transport entities, jeopardising the provision of essential transport services in Singapore. We have built strong relationships with the firms in our transport ecosystem and worked closely with them during peace time and crises, such as the COVID-19 pandemic, to provide safe, reliable and efficient services for Singapore, and we want to make sure that they continue to do so in the years ahead.

We are not alone in making moves to safeguard our essential transport services. Other countries have taken steps to protect their strategic assets too. In 2021, the United Kingdom (UK) passed the National Security and Investments Act, which allows the government to intervene in certain acquisitions made that could harm the UK's national security. In the United States (US), the Foreign Investment Risk Review Modernisation Act was passed in 2018 to expand the jurisdiction of the Committee on Foreign Investment in the US, to address growing national security concerns over foreign investment in US companies or operations.

[Deputy Speaker (Mr Christopher de Souza) in the Chair]

Singapore already has regulations in place to safeguard some of our essential sectors. For example, the Banking, and Telecommunications Acts require approval to be sought before a person acquires a certain percentage of shares or voting power in a licensee; and prior to the appointment of key personnel, such as the chief executive officer (CEO). The Electricity, and Public Utilities Acts also provide similar levers to safeguard the management and provision of electricity and water in Singapore, to ensure that these supplies always remain available.

More recently, the Ministry of Trade and Industry passed the Significant Investments Review Act, or SIRA, which provides the Government with an updated set of regulatory levers to manage threats posed by significant investments into critical entities. Likewise, the Ministry of Transport (MOT) would like to propose measures to ensure that our essential transport systems are able to serve Singapore and Singaporeans effectively, now and in the future.

Mr Deputy Speaker, please allow me to explain why we are introducing a transport sector-specific regulatory framework through this Bill, which is consistent across the air, land and sea transport sectors, instead of going through a broad-based legislation like SIRA. A sector-specific approach can better allow us to customise the regulatory oversight needed for Singapore's transport ecosystem and balance these objectives with the commercial and business impact on our transport entities and their investors.

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We have, therefore, designed our regulations in a calibrated and targeted manner. The proposed Bill does not seek to regulate the standards and performance of our entities' day-to-day operations. Rather, it seeks to protect key transport entities against the risk of malicious actors exerting undue influence over these entities and ensure that commercial decisions made by the entities do not jeopardise their ability to provide essential transport services in Singapore.

Some entities may be involved in the provision of other services outside of transport, such as food and beverage (F&B) or advertising services. The Bill will not focus on regulating these services; instead, it is targeted at the parts of the entity that directly provide essential transport services in Singapore.

In addition, we also recognise that different entities play different roles to deliver a range of services. Since last year, MOT has been engaging the key transport entities to better understand how regulations can be practically implemented. We have taken in their feedback when designing this Bill and we are mindful of the commercial impact. MOT will, therefore, differentiate some controls based on entities' roles, responsibilities and functions, which I will elaborate in a later part of my speech.

Finally, the Bill serves to harmonise our laws across the transport sector, to reduce the regulatory burden on entities as they evolve, as well as provide greater consistency on commercial and investment controls in the Singapore transport ecosystem. This Bill seeks to introduce a common regime covering both licensees and non-licensees across air, land and sea transport, to apply a consistent set of regulatory controls and to create a transparent and predictable regulatory environment for entities.

Sir, I will now go into the key features of the Bill. The Transport Sector (Critical Firms) Bill makes amendments to the following Acts: the Bus Services Industry Act, or BSI Act; the Civil Aviation Authority of Singapore Act, or CAAS Act; the Maritime and Port Authority of Singapore Act, or MPA Act; and the Rapid Transit Systems Act, or RTS Act.

After they are amended, these Acts will continue to be administered by the relevant authorities of these Acts, namely CAAS, the Land Transport Authority of Singapore (LTA) and MPA. These authorities will also be responsible for designating relevant entities under the framework.

Please allow me to explain how we plan to classify the affected entities. Sir, the Bill is not intended to apply to every entity which provides a transport service in Singapore. Instead, we will take a targeted approach by regulating entities within the transport sector that meet the following criteria: first, they are involved in the provision of essential transport services in the air, land or sea transport sectors; and second, they are strategically important within the sector, for example, if the services they provide are not readily replaceable due to significant market share or specialised expertise.

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Clauses 3, 19, 30 and 47, together with the new Schedules, set out the definitions for an "essential transport service" under each sector, by listing out the key services necessary for Singapore's air, land and sea transport networks. For land, we intend to include, among other things, public bus and rail services. For aviation, we plan to include, among other things, airport and ground-handling operations and passenger and cargo air services at Changi Airport. For maritime, we plan to include, among other things, port and marine services and facilities, as well as services which support the provision of sea transport, such as water supply and bunkering.

Clauses 8, 23, 33 and 52 of the Bill insert provisions empowering the regulatory authorities to designate entities that are involved in the provision of essential transport services in Singapore. Entities can be designated as a "designated operating entity", if they directly provide any essential transport service in Singapore and are strategically important within the sector; or a "designated equity interest holder", if they hold an equity interest in a designated operating entity and have a strong nexus of control over their subsidiaries that are designated operating entities.

This is because such individuals or organisations may influence key decisions related to the provision of essential transport services in Singapore. For the rest of my speech, I will be referring to both "designated operating entities" and "designated equity interest holders" collectively as "designated entities", otherwise, it will be quite a mouthful.

The designation process will be initiated after the Bill is passed and the law is brought into force. We intend for the relevant firms to be designated by the end of this year, if Parliament approves the Bill. The notifications of designations will specify the date on which designation of a company takes place and will be published in the Gazette at least 14 days before the date that designation takes place. This is provided for in the new section 28E of the BSI Act; the new section 64 of the CAAS Act; the amended section 86D of the MPA Act; and the new section 21E of the RTS Act.

The Bill will introduce legislative levers across the four Acts in three aspects: ownership controls; management appointment controls; and operations and resourcing controls.

Ownership of a firm allows parties to exercise influence over its direction, management and decisions. The Bill will allow relevant authorities to have oversight of significant changes in effective control of designated entities, through the following requirements: any person who becomes a 5% controller of the designated entity, which is when we consider a person to be a substantial shareholder of a company, must notify the relevant authorities within seven days after becoming a 5% controller.

Any person who intends to become or cease being a 25%, 50% or 75% controller of the designated entity must seek the relevant authority's approval. At these levels of shareholding, controllers hold significant influence over a company, such as the ability to pass and block ordinary and special resolutions. In addition, the relevant authority's approval must be sought for: first, any person intending to become an indirect controller, meaning someone that is able to exert control over the directors or trustee managers of the designated entity; or, any person intending to acquire and continue operating without disruption, any part of the designated operating entity's business relating to the provision of essential transport services. This is to provide the relevant authority with oversight over all acquisitions of the entity or parts of the entity, regardless of whether there are significant changes to its service provisions.

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Lastly, designated entities must notify the relevant authority within seven days after becoming aware of any of the ownership changes which I just described.

The second set of controls pertain to the appointment of management by designated entities. These controls allow the relevant authorities to be kept apprised of changes to the key personnel responsible for the management of our critical transport firms, as well as operations affecting the continued provision of the essential transport service.

The Bill will require designated entities to seek the relevant authority's approval for the appointment of its CEO and Chairperson of its board of directors; and designated operating entities who are also licensees to seek the relevant authority's approval for the appointment of its CEO, Chairperson, as well as all directors of its board.

Lastly, the Bill will introduce controls over operations and resourcing, to ensure that companies are equipped and able to operate their services under all circumstances, including times of crisis and in the event of significant changes within each sector. We propose that designated entities should notify their respective authorities as and when there are material developments or events, so that the relevant authorities are kept aware of events that could materially impede or impair the provision of essential transport services in Singapore and are able to take mitigation measures early and as needed.

While current licensing regimes for each sector may also include notification requirements, this Bill codifies the notification requirements across all transport sectors for designated entities. The Bill will require designated entities to notify the relevant authority of such events, for example, if a designated operating entity outsources a material function in providing essential transport services in Singapore, or if they face material events or legal proceedings that may impair or impede the provision of essential transport services in Singapore. This list of events will be circumscribed.

To help companies comply with these requirements, the relevant authorities will issue a set of advisory guidelines after the Bill is approved by Parliament and comes into effect. These advisory guidelines will provide practical guidance for these notification requirements. We have provided for this by clauses 13, 25, 41 and 55 of the Bill.

Next, the Bill inserts provisions extending the relevant authority's step-in powers, via a Special Administration Order, to cover designated operating entities and licensees across the air, land and sea transport sectors. This is to safeguard service continuity in extreme scenarios and unlikely events, such as where a designated operating entity or licensee becomes unable to provide essential transport services safely and reliably.

Currently, the relevant authorities could issue Special Administration Orders to their licensees, as a safeguard in extreme scenarios. The step-in powers in this Bill are similar in scope, in that they extend to designated operating entities that directly provide essential transport services in Singapore, but are not licensees.

Sir, I wish to assure Members that step-in powers will be exercised as a last resort to deal with extreme scenarios. They are meant to safeguard the provision of essential transport services in Singapore. For example, this could include when a designated operating entity becomes insolvent and unable to pay its debts and this, in turn, jeopardises the continued provision of essential transport services. We will not intervene in the commercial operations and affairs of the entities in the normal course of business.

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If we need to use the proposed step-in powers, we will exercise them judiciously and only for the period which they are required for. The new section 33E of the BSI Act, the new section 75 of the CAAS Act, the new section 89B of the MPA Act and the new section 27D of the RTS Act in the Bill update the related provisions in existing Acts. For example, the Bill will provide for the issuance of ancillary directions, to specify the period in which the step-in order will take effect and other relevant conditions to achieve the purposes of the order when step-in powers are exercised.

Finally, business continuity planning requirements. The Bill introduces the power for CAAS to impose requirements for business continuity planning for designated operating entities in the air transport sector. They will not apply to designated equity interest holders. The Bill does not cover these requirements for designated operating entities in the land and sea transport sectors, as we can subject them to similar requirements via licence conditions.

Let me now touch on the general and miscellaneous provisions under the Bill. The Bill will allow the relevant authorities to issue remedial directions for breaches of controls relating to ownership and management appointments, among others. These remedial directions could include directing the disposal of equity interest and removal of key appointment holders, if prior approval was not sought or if conditions of approval were breached.

The Bill will employ the following penalties to enforce the regime. We have specified penalties for the breach of any control, including conditions of approval, relating to ownership, management appointments and notification requirements for certain events, the breach of any remedial direction as well as non-compliance with duties under a Special Administration Order.

The penalties will take reference from penalties under existing Acts, which take into account the operating environments within each sector. The amended section 41 of the BSI Act, the new section 67K of the CAAS Act, the new section 86HD of the MPA Act and the new section 28 of the RTS Act provide for avenues of appeal to the Minister against certain decisions made by the relevant authorities, including the designation of an entity, refusal to grant approvals required for controls over ownership or management appointments and the issuance of remedial directions.

Sir, I would like to highlight that MOT will be moving a Notice of Amendment during the Committee stage to address two drafting changes. First, we seek to amend clause 39 to remove subsection (3) of the new section 86HB of the MPA Act as it is not necessary in view of subsection (2) of the same. Next, we propose to make a technical amendment to clause 19 for consistency with the prevailing legislative drafting style for the numbering of sub-paragraphs.

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Mr Deputy Speaker, Singapore’s connectivity is one of our greatest assets and something we must continue to safeguard carefully to protect the interests of Singapore and Singaporeans. We shall do so in a calibrated and targeted manner, by striking a balance between what is useful and practical for our transport sector and minimising the commercial and cost impact on companies and investors. We will continue to work closely with the industry and stakeholders on the implementation of this Bill. Sir, I beg to move.

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