Under the proposed modifications, designated companies may face three sorts of controls, said MOT’s director.  ,
Ownership controls may keep track of changes to their successful control” to protect against adverse influence.”  ,
For instance, depending on the amount, buyers and sellers may need to notify the authorities or request acceptance, and designated companies must do so within seven days after learning about these ownership and control changes.  ,
The spokesperson added that the “principally accountable” for the management of the designated companies will be in good health and no “inimical to national interests” as a result of the suggested controls over management meetings.  ,
In accordance with the proposed policy, designated entities will need to obtain consent from the appropriate authority before appointing their CEO and board chair. If the designated institution is also a certified operator, this also applies to the managers of the board, the spokesperson said.
Public transportation operators licensed under current laws previously need LTA’s approval before appointing their CEOs and boards.
The MOT director said that designated entities will need to inform the appropriate specialist of events that “materially restrict or affect” the provision of essential travel services in Singapore if the Bill is passed.  ,
These procedures or resourcing controls will make sure that designated organizations have the resources and abilities necessary to offer travel services, they continued.
If the Bill is passed, the Transport Minister, upon application by the appropriate authority, may issue a specific administration order to ensure the service continues, in the “extreme scenario” where the designated operating entity never provide vital transport services safely and effectively.
Under the proposed laws, if designated entities breach these controls, including conditions for approval, they could be subject to remedial directions, including the disposal of equity interest and the removal of key appointment holders, said the MOT spokesperson.  ,
Breaching the controls and any of the remedial instructions will also be regarded as an offence, and the penalties for these offenses will be based on already in place penalties under the relevant Acts.  ,
Within 14 days of receiving notification of the relevant authority’s decision on designation and requests for approval for ownership or management appointments, a person may file an appeal with the Transport Minister.  ,