Acquiring Equity Interest or Voting Power in a Designated Entity

Parties will need to notify or seek approval if they are involved in transactions that meet the prescribed thresholds for the designated entities.

The default obligations are:

• Notifying the Minister within 7 calendar days of becoming a 5% controller in a designated entity; and

• Seeking the Minister’s approval prior to becoming a 12%, 25%, or 50% controller in a designated entity.

While the above are default thresholds set out in the Act, the Minister has the flexibility to vary such thresholds for specific entities as the situation warrants, and if so, these will be prescribed in subsidiary legislation.

Parties may seek clarification from OSIR at contact@osir.gov.sg before the commencement of any formal application.

Parties are to submit the relevant notification forms and approval forms
via email to submissions@osir.gov.sg.