s 29S Acquisition of cruise terminal licensee as going concern
29S.—(1) A person must not, whether or not the person has obtained any approval of the Controller under section 29R(1)(b) or is exempted from section 29R(1), acquire as a going concern the business of a cruise terminal licensee conducted pursuant to its licence for a cruise terminal, unless the person and the cruise terminal licensee have obtained the prior written approval of the Controller. (2) The Controller may approve an application under subsection (1) if the Controller is satisfied that —(a) the person acquiring the business is a fit and proper person; (b) the acquisition will not affect the proper operation of the cruise terminal concerned; and (c) it is in the public interest to do so. (3) Any approval by the Controller under this section may be granted subject to any condition as the Controller considers appropriate. (4) Any condition imposed by the Controller under this section has effect despite the provisions of any other written law or anything contained in the memorandum or articles of association, trust deed or other constitution of the cruise terminal licensee. (5) An application for the Controller’s approval under subsection (1) must —(a) be made jointly by the person and the cruise terminal licensee; and (b) be made in such form and manner as the Controller may specify. (6) Any person who contravenes subsection (1) shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $100,000 or to imprisonment for a term not exceeding 3 years or to both.[Act 28 of 2022 wef 01/04/2023]