AI-assisted research summary: This Act sets up a framework for regulating significant investments in, and control of, critical entities, and lets the Minister appoint its commencement date by Gazette notification.
REPUBLIC OF SINGAPORE GOVERNMENT GAZETTE ACTS SUPPLEMENT Published by Authority NO. 4] Friday, February 16 [2024 The following Act was passed by Parliament on 9 January 2024 and assented to by the President on 6 February 2024:— Significant Investments Review Act 2024 (No. 1 of 2024) I assent. THARMAN SHANMUGARATNAM, President. 6 February 2024. Date of Commencement: 28 March 2024 An Act to protect the national security interests of Singapore by regulating significant investments in, and control of, critical entities. Be it enacted by the President with the advice and consent of the Parliament of Singapore, as follows: PART 1 PRELIMINARY Short title and commencement 1. This Act is the Significant Investments Review Act 2024 and comes into operation on a date that the Minister appoints by notification in the Gazette. Purpose of Act 2. The purpose of this Act is to protect the national security interests of Singapore by regulating significant investments in, and control of, critical entities. General interpretation 3. In this Act — “appointed authority” means a public officer, or a body, appointed under section 7(1); “authorised officer” means an individual appointed under section 5(1) or 8(1); “competent authority” means the public officer, or the body, appointed under section 4(1); “designated entity” means an entity that has been designated under section 17(1) as a designated entity; “entity” means any sole proprietorship, partnership, corporation or other body of persons, whether corporate or unincorporate, and includes a trust; “Guidelines on Fit and Proper Criteria” means the Guidelines on Fit and Proper Criteria mentioned in section 54; “Minister” means the Minister charged by the Prime Minister with the responsibility for this Act under Article 30(1) of the Constitution; “public authority” means — (a) any Ministry, department of the Government or Organ of State; or (b) any body established or constituted by or under any public Act to perform a public function, but excludes a Town Council; “relevant Minister” has the meaning assigned to that term in section 6(2); “Town Council” means a Town Council established under section 4 of the Town Councils Act 1988.
Referenced legislation
- Town Councils Act 1988 (resolved)
- Constitution (unresolved)