s 5 Functions of Board
5.—(1) The Board has the following functions:(a) to enable Singapore‑based enterprises and other enterprises requiring assistance to create and expand their businesses in domestic and foreign markets; (b) to enhance the business environment in Singapore and Singapore’s global and regional connectivity, for Singapore‑based enterprises to create and expand their businesses in foreign markets; (c) to promote and facilitate trading in any goods, or derivatives contracts in respect of one or more commodities; (d) in relation to commodity trade and industry —(i) to regulate the rubber trade and industry; (ii) to regulate spot commodity trading; and (iii) to promote, develop and maintain the commodity trade and industry in Singapore, including any market involving derivatives contracts in respect of one or more commodities; (e) to serve as the national productivity, innovation, standards and accreditation body, which seeks to raise total factor productivity and improve Singapore’s competitiveness; (f) [Deleted by Act 13 of 2025 wef 01/07/2025] (g) to cooperate and collaborate with the Skills and Workforce Development Agency established by section 3 of the Skills and Workforce Development Agency Act 2026 in the discharge of its functions under that Act;[Act 17 of 2026 wef 01/07/2026] (h) to represent Singapore internationally in matters relating to —(i) trade; and (ii) productivity, innovation, standards, accreditation and conformity assessment; (i) to advise and assist the Government, any public authority or any industrial, commercial, trading or other organisation, on matters relating to —(i) the development or regulation of trade, including commodity trade and industry, and to act as agent for the Government or for any person, body or organisation on such matters; and (ii) productivity, innovation, standards and accreditation; (j) to perform such other functions as may be conferred on the Board by or under any other Act. (2) In performing the functions conferred on the Board by subsection (1), the Board must have regard to the policies and directions of the Research, Innovation and Enterprise Council established by the National Research Fund Act 2006. (3) The Board may also undertake such other functions as the Minister may, by notification in the Gazette, assign to the Board, and in so undertaking —(a) the Board is deemed to be fulfilling the purposes of this Act; and (b) the provisions of this Act apply to the Board in respect of those other functions. (4) Nothing in this section imposes on the Board, directly or indirectly, any form of duty or liability enforceable by proceedings before any court to which the Board would not otherwise be subject.