By Ramiro Rodriguez and Lucy Megarry
A draft of the new Significant Investments Review Bill was introduced to Parliament on 6 November 2023. The bill is now due for a second reading in January 2024. If enacted, the bill will commence the first industrywide regime restricting investments in Singapore.
The bill applies to all local and foreign, incorporated and unincorporated entities in Singapore that meet the following criteria:
a. Are incorporated, formed or established in Singapore; and
b. Carry out any activity in Singapore; or
c. Provide any goods or services to any person in Singapore.