- Minister may allow, applied to the Minister for approval to continue to be such a shareholder; or
- (b) at any time before the appointed day, if he is not a citizen of Singapore, has entered into any agreement or arrangement referred to in subsection (1)(b) shall continue to be a party to such an agreement or arrangement unless he has, within 6 months after that day, or such longer period as the Minister may allow, applied to the Minister for approval to continue to be a party to such an agreement or arrangement.
(3) The Minister may, in his discretion, approve an application made by any person under subsection (1) or (2) if the Minister is satisfied that—
- (a) the person is a fit and proper person;
- (b) having regard to the person’s likely influence, the employer of the Auxiliary Police Force will or will continue to conduct its business prudently and comply with the provisions of this Act; or
- (c) it is in the national interest to do so.
(4) Any approval under this section may be granted to any person subject to such conditions as the Minister may determine, including but not limited to any condition—
- (a) restricting the person’s disposal or further acquisition of shares or voting power in the employer of an Auxiliary Police Force; or
- (b) restricting the person’s exercise of voting power in that employer.
(5) Any condition imposed under subsection (4) shall have effect notwithstanding any of the provisions of the Companies Act (Cap. 50) or anything contained in the memorandum or articles of association, or other constitution, of the employer of an Auxiliary Police Force.
(6) Where the Minister does not approve an application made by any person under subsection (1) or (2), the person shall, within such time as the Minister may specify, take such steps as are necessary—
- (a) in the case of subsection (1)(a) or (2)(a), to cease to be a substantial shareholder; or
- (b) in the case of subsection (1)(b) or (2)(b), to cease to be a party to the agreement or arrangement.
