s 27B Meaning and purposes of special administration order
27B.—(1) A special administration order is an order of the Minister made in relation to a relevant entity in accordance with section 27C, directing that during the period the order is in force, the affairs, business and property of that entity are to be managed by a person appointed by the Minister which may be the Authority (called in this Part an appointed person) —(a) for securing one or more of the purposes specified in subsection (2); and (b) in a manner that protects the interests of the shareholders, unitholders or beneficiaries (as the case may be), and the customers and creditors, of the entity. (2) For the purposes of subsection (1)(a), the purposes are as follows:(a) in the case of a relevant entity that is a licensee — the safety, security and continuity of the provision of railway passenger services and facilities relating to the rapid transit system specified in its licence; (b) in the case of a relevant entity that is a designated operating entity — the security and reliability of the business, undertaking or activities of the relevant entity in Singapore relating to the provision of any essential transport service; (c) the survival of the relevant entity or the whole or any part of the business or undertaking of the relevant entity, as a going concern; (d) the transfer to another person, or (as respects different parts of its business or undertaking) to 2 or more different persons, as a going concern, of so much of the business or undertaking of the relevant entity as is necessary to ensure that the following may be properly carried out:(i) in the case of a relevant entity that is a licensee — the obligations of the entity in relation to its business, undertaking or activities of providing railway passenger services and facilities relating to the rapid transit system specified in its licence; (ii) in the case of a relevant entity that is a designated operating entity — the obligations of the entity in relation to its business, undertaking or activities of providing any essential transport service; and (e) the carrying out of the obligations of the relevant entity mentioned in paragraph (d)(i) or (ii) (whichever is applicable) pending the transfer, as a going concern, of the entity’s business or undertaking mentioned in paragraph (d)(i) or (ii) (as the case may be) to any other person or persons.[Act 20 of 2024 wef 01/04/2025]