§ 28 — Removal of chief executive officer, director, etc.

28.—(1) This section applies if —(a)

an individual has been appointed by a designated entity as a chief executive officer, director, chairperson of the board of directors or manager, or becomes a partner of a designated entity, without the approval of the Minister under section 27(4)(a);

(b)

any condition of approval of an application under section 27(1) has been breached; or

(c)

the Minister considers it necessary in the interest of Singapore’s national security that any individual appointed as chief executive officer, director, chairperson of the board of directors or manager, or that becomes a partner of a designated entity, should not act as such chief executive officer, director, chairperson, manager or partner (as the case may be) of the designated entity.

(2) If this section applies, the Minister may (despite the provisions of any other written law) by written notice direct the designated entity to remove the individual within the period specified by the Minister in the notice —(a)

from employment with the designated entity;

(b)

as chief executive officer, director, or chairperson of the board of directors, of the designated entity; or

(c)

as manager or partner of the designated entity.

(3) Before directing a designated entity to remove an individual under subsection (2), the Minister must give both the designated entity and the individual an opportunity to be heard.

(4) The Minister may at any time, by written notice to a designated entity, require the designated entity to notify the Minister of any change to any particulars (such as but not limited to residence in Singapore or elsewhere, or nature of appointment) of its chief executive officer, director, chairperson of the board of directors, manager or partner specified in the notice.

(5) A designated entity that, without reasonable excuse, fails to comply with a written notice under subsection (2) shall be guilty of an offence.

(6) A designated entity that, without reasonable excuse, contravenes any requirement imposed under subsection (4), shall be guilty of an offence and shall be liable on conviction —(a)

in the case of an individual, to a fine not exceeding $10,000 or to imprisonment for a term not exceeding 12 months or to both and, in the case of a continuing offence, to a further fine not exceeding $250 for every day or part of a day during which the offence continues after conviction; or

(b)

in any other case, to a fine not exceeding $100,000 and, in the case of a continuing offence, to a further fine not exceeding $10,000 for every day or part of a day during which the offence continues after conviction.

(7) No civil or criminal liability is incurred by a designated entity, or any person acting on behalf of the designated entity, in respect of anything done (including any notification made) or omitted to be done with reasonable care and in good faith in the discharge or purported discharge of the obligations of the designated entity under this section.

—(1) This section applies if —(a)

an individual has been appointed by a designated entity as a chief executive officer, director, chairperson of the board of directors or manager, or becomes a partner of a designated entity, without the approval of the Minister under section 27(4)(a);

(b)

any condition of approval of an application under section 27(1) has been breached; or

(c)

the Minister considers it necessary in the interest of Singapore’s national security that any individual appointed as chief executive officer, director, chairperson of the board of directors or manager, or that becomes a partner of a designated entity, should not act as such chief executive officer, director, chairperson, manager or partner (as the case may be) of the designated entity.

(2) If this section applies, the Minister may (despite the provisions of any other written law) by written notice direct the designated entity to remove the individual within the period specified by the Minister in the notice —(a)

from employment with the designated entity;

(b)

as chief executive officer, director, or chairperson of the board of directors, of the designated entity; or

(c)

as manager or partner of the designated entity.

(3) Before directing a designated entity to remove an individual under subsection (2), the Minister must give both the designated entity and the individual an opportunity to be heard.

(4) The Minister may at any time, by written notice to a designated entity, require the designated entity to notify the Minister of any change to any particulars (such as but not limited to residence in Singapore or elsewhere, or nature of appointment) of its chief executive officer, director, chairperson of the board of directors, manager or partner specified in the notice.

(5) A designated entity that, without reasonable excuse, fails to comply with a written notice under subsection (2) shall be guilty of an offence.

(6) A designated entity that, without reasonable excuse, contravenes any requirement imposed under subsection (4), shall be guilty of an offence and shall be liable on conviction —(a)

in the case of an individual, to a fine not exceeding $10,000 or to imprisonment for a term not exceeding 12 months or to both and, in the case of a continuing offence, to a further fine not exceeding $250 for every day or part of a day during which the offence continues after conviction; or

(b)

in any other case, to a fine not exceeding $100,000 and, in the case of a continuing offence, to a further fine not exceeding $10,000 for every day or part of a day during which the offence continues after conviction.

(7) No civil or criminal liability is incurred by a designated entity, or any person acting on behalf of the designated entity, in respect of anything done (including any notification made) or omitted to be done with reasonable care and in good faith in the discharge or purported discharge of the obligations of the designated entity under this section.