Transport Sector (Critical Firms) Bill
Explore the details of bill number 16/2024.
Summary
- The Transport Sector (Critical Firms) Bill aims to amend various transport-related acts to strengthen the control and management of entities providing essential transport services in Singapore.
- It establishes a framework for designated operating entities and designated equity interest holders, allowing for stringent control over ownership and management in the transport sector.
- The Bill includes provisions for special administration orders to manage designated entities in distress, ensuring continued delivery of critical transport services.
- Any changes in ownership or management, especially regarding equity interests exceeding 5%, require prior approval from the relevant authorities.
- Violators of these provisions may face significant penalties, emphasizing the importance of maintaining reliable and secure transport services in Singapore.
Summary written by AI (edit)
Timeline
The bill is formally presented in Parliament for consideration.
5 months ago
The bill's title and key objectives are read out, but no debate occurs at this stage.
5 months ago
Members of Parliament debate the bill's general principles and overall merits.
4 months ago
The bill is examined in detail by a select committee, which may suggest amendments.
4 months ago
Members of Parliament debate the final version of the bill, including any amendments made.
4 months ago
The bill is voted on by the Members of Parliament and, if it receives the required majority, it becomes law. Do note that an exact vote may not be counted; the 'ayes' can simply be louder than the 'noes'.
4 months ago
The bill is passed and becomes law.
4 months ago