Transport Sector (Critical Firms) Bill

The Transport Sector (Critical Firms) Bill seeks to amend various laws related to the regulation of essential transport services. Key points include:

• The bill amends the Bus Services Industry Act 2015, Civil Aviation Authority of Singapore Act 2009, Maritime and Port Authority of Singapore Act 1996, and Rapid Transit Systems Act 1995 to control entities providing essential transport services and their equity interest holders.
• It introduces designations for specific entities as "designated operating entities" and "designated equity interest holders," requiring approval for changes in control or management.
• The bill outlines new requirements for the approval process concerning ownership stakes, management appointments, and business continuity plans for entities providing essential transport services.
• It establishes strict regulations against the voluntary winding up of designated entities without the authority's consent and includes mechanisms for issuing special administration orders to protect operational integrity.
• Offenses and penalties related to non-compliance with the provisions are specified, with significant fines or imprisonment as repercussions.