FAQs: Transfer of Functions and Powers

The FAQs are intended to provide guidance to parties on the policy provisions and the administration of SIRA. They do not constitute as legal advice.

If you have further clarifications, feel free to contact us at contact@osir.gov.sg.

• What powers have been retained by the Minister for Trade and Industry, and what powers have been transferred to the relevant Ministers?

  Only the functions and powers of the Minister for Trade and Industry under Part 3 (other than section 17 and Division 6) and section 38 of the Significant Investments Review Act (SIRA) have been transferred to the respective relevant Minister for the specified designated entities, as set out in the notification published in the Government Gazette.

• What is the purpose of having a relevant Minister?

  The Prime Minister of Singapore may direct the transfer of selected functions and powers over a designated entity to a relevant Minister when the relevant Minister may be more suitable to oversee the designated entity. For example, if the entity is in a sector that comes under his or her purview.

• What are the powers that can and cannt be transferred to a relevant Minister?

  The powers to designate an entity, or to exercise targeted powers that can be used against any entity that has acted against Singapore's national security interests, can only be exercised by the Minister for Trade and Industry.

  Besides that, the Prime Minister of Singapore may direct the transfer of selected functions and powers over a designated entity to the relevant Minister.

  Such transfers will be notified in the Government Gazette.

• After the transfer of powers to a relevant Minister, will the specified designated entity still be designated under Significant Investments Review Act and not other legislation?

  Where there is a transfer of powers to a relevant Minister, the specified designated entity remains subject to provisions under the Significant Investments Review Act with the relevant Minister's powers derived from the Act.

• What will the role of the Office of Significant Investments Review be after the transfer of powers to the relevant Minister?

  The Office of Significant Investments Review will remain as a dedicated one-stop touchpoint for stakeholders and welcomes any informal or pre-transaction enquiries which businesses or investors may have.

• Are there any changes to the submissions for approval or notification?

  There is no change to the process for notification or approval. Any submissions should be submitted to submissions@osir.gov.sg. The Office of Significant Investments Review will then direct all requests to the relevant Ministers and their respective Ministries.