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Significant Investments Review Bill | PAPERCUTS

Significant Investments Review Bill

Explore the details of bill number 38/2023.

Summary written by AI (learn more)

The Significant Investments Review Bill aims to protect Singapore's national security by regulating significant investments in and control of critical entities.
It establishes a framework that includes the designation of entities and the appointment of competent authorities and authorized officers to oversee compliance.
The Bill requires individuals and entities to notify the Minister regarding changes in equity interests and control over designated entities, with specific thresholds for various levels of control (Level A, B, C, D, Y, Z).
The Minister is empowered to issue special administration orders and remedial directions concerning designated entities, including the assessment of transactions that may impact national security.
Penalties are outlined for non-compliance with the provisions, and there are mechanisms for reconsideration and appeal against decisions made under the Act.

Timeline

Bill introduced

The bill is formally presented in Parliament for consideration.

3 years ago

First reading

The bill's title and key objectives are read out, but no debate occurs at this stage.

3 years ago

Second reading

Members of Parliament debate the bill's general principles and overall merits.

2 years ago

Select committee

The bill is examined in detail by a select committee, which may suggest amendments.

2 years ago

Third reading

Members of Parliament debate the final version of the bill, including any amendments made.

2 years ago

Voting

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'.

2 years ago

Bill passed

The bill is passed and becomes law.

2 years ago

Summary

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