Photo by Tingey Injury Law Firm

What you need to know about Singapore's proposed investment management regime

The regime will apply to local and foreign investors. 

The Ministry of Trade and Industry (MTI) has introduced a bill that will set out a new investment management regime for entities critical to Singapore's national security interests. 

The Significant Investments Review Bill covers local and foreign investors.

Entities that have acted against Singapore’s national security interests may also have their transactions reviewed under certain circumstances, even if they have not been designated.

Under the bill,  designated entities will have the following ownership and control requirements:

  • Notification or approval obligations for specified changes in ownership or control of designated entities will be imposed on buyers, sellers, and the designated entities;
  • Remedial directions may be issued under certain circumstances.
  • Designated entities will be required to seek approval for the appointment of key officers. Officers may be removed if they have been appointed without approval or if conditions of approval are breached. The minister may also remove key officers in the interest of national security. 
  • Designated entities will also be subject to other provisions to ensure the security and reliability of their critical functions.

The government will also set up an "Office of Significant Investments Review" under the Ministry of Trade and Industry, which will serve as a dedicated one-stop touchpoint for stakeholders.

“As most critical entities in Singapore are already adequately covered by existing sectoral legislation, we expect only a handful of critical entities to be designated under this Bill. Stakeholders will continue to be closely engaged, to ensure that the overall impact on affected businesses will be minimised and our ecosystem remains vibrant,” Minister Gan said.

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