PART III | FUNCTIONS AND POWERS OF BOARD |
5.—(1) The functions of the Board are —| (a) | to promote, develop and facilitate the development of a business environment in Singapore that makes Singapore a preferred centre from which Singapore-based enterprises create, develop and expand their businesses in foreign markets; | | (b) | to initiate and develop programs or activities for Singapore-based enterprises to promote the creation, development and expansion of foreign markets; | | (c) | to assist, improve, enhance and develop the skills, capacity and resources of Singapore-based enterprises in managing international businesses; | | (d) | to foster and develop linkages between Singapore-based enterprises conducting business in foreign markets in order to facilitate co-operation, communication and exchange of information between them; | | (e) | to develop and strengthen linkages and networks between foreign businesses and Singapore-based enterprises; | | (f) | to facilitate access by Singapore-based enterprises to departments of the Government or any public authority where that access is likely to enhance opportunities for the creation, development or expansion of any foreign market for such enterprises; | | (g) | to promote, assist and develop trade and the provision of technical and consultancy services to persons overseas; | | (h) | to organise and participate in any trade exhibition, trade fair and trade mission; | | (i) | to represent Singapore internationally in respect of matters relating to trade; | | (j) | to promote, facilitate and assist in the development and improvement of shipping and warehousing facilities and other related services; | | (k) | to advise and assist the Government or any public authority on matters affecting or in any way connected with 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; [Act 8 of 2017 wef 10/04/2017] | | (l) | to regulate the rubber trade and industry; [Act 8 of 2017 wef 10/04/2017] | | (la) | to regulate spot commodity trading; [Act 8 of 2017 wef 10/04/2017] | | (lb) | to promote and facilitate trading in such goods, and derivatives contracts in respect of one or more commodities, as the Board may think fit; [Act 8 of 2017 wef 10/04/2017] | | (lc) | 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; and [Act 8 of 2017 wef 10/04/2017] | | (m) | to exercise the functions, powers and duties conferred upon the Board under any written law. [16/92; 17/2002] |
(2) In addition to the functions and duties imposed by this section, the Board may undertake such functions as the Minister may assign to it, and in so doing —| (a) | the Board shall be deemed to be fulfilling the purposes of this Act; and | | (b) | the provisions of this Act shall apply to the Board in respect of those functions. [17/2002] |
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| (3) Nothing in this section shall be construed as imposing on the Board, directly or indirectly, any form of duty or liability enforceable by proceedings before any court to which it would not otherwise be subject. [17/2002] |
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6.—(1) The Board shall have power to do anything for the purpose of discharging its functions under this Act, or which is incidental or conducive to the discharge of those functions.(2) Without prejudice to the generality of subsection (1), the Board may —| (a) | establish and maintain offices (including business support offices) both in Singapore and overseas; | | (b) | collect, compile and analyse information, or commission surveys, research or studies, relating to Singapore-based enterprises conducting business in foreign markets; | | (ba) | collect, compile and analyse particulars and information furnished under the Regulation of Imports and Exports Act (Cap. 272A) or any regulations made under that Act; [Act 8 of 2017 wef 10/04/2017] | | (bb) | collect, compile and analyse particulars and information, or commission surveys, research or studies, relating to the commodity trade and industry; [Act 8 of 2017 wef 10/04/2017] | | (c) | promote, undertake or commission surveys, research or studies to identify new business opportunities or overseas markets for Singapore-based enterprises, or for the improvement and development of trade in goods and services generally; | | (d) | enter into memoranda of understanding and other similar arrangements; | | (e) | engage in any commercial activity, including forming or participating in the formation of a company and entering into joint ventures or partnerships for the purposes of promoting and developing trade and services; | | (f) | utilise all the property of the Board, movable and immovable, in such manner as the Board may think expedient including the raising of loans by mortgaging such property; | | (g) | acquire or dispose of any property, movable or immovable, which the Board thinks necessary or expedient for the purpose of carrying out its functions under this Act; | | (h) | publish or sponsor the publication of periodicals, booklets and other written materials; | | (i) | produce or sponsor the production of documentary films and other audio-visual materials; | | (j) | charge for the use of any facility or service provided by the Board; | | (k) | appoint agents in any country to carry out its functions under this Act; | | (l) | organise courses and award certificates of proficiency; | | (m) | provide advisory and information services; | | (n) | promote or undertake publicity in any form; | | (o) | provide facilities for the training of persons in any way connected with the promotion or development of trade; | | (p) | receive donations and contributions from any source and raise funds by all lawful means; | | (q) | grant loans to employees of the Board for any purpose specifically approved by the Board; | | (r) | provide recreational facilities and promote recreational activities for, and activities conducive to, the welfare of employees of the Board; and | | (s) | do anything incidental to any of its powers. [17/2002] |
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7.—(1) The Minister may, after consultation with the Board, give such directions, not inconsistent with the provisions of this Act, to the Board as he thinks fit as to the exercise by the Board of its functions and powers.(2) Without prejudice to subsection (1), if it appears to the Minister to be requisite or expedient to do so —| (a) | in the interests of relations with the government of another country; or | | (b) | in order —| (i) | to discharge or facilitate the discharge of an obligation binding on the Government by virtue of it being a member of an international organisation or a party to an international agreement; | | (ii) | to attain or facilitate the attainment of any other object the attainment of which is in the opinion of the Minister requisite or expedient in view of the Government being a member of such an organisation or a party to such an agreement; or | | (iii) | to enable the Government to become a member of such an organisation or a party to such an agreement, |
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| the Minister may, after consultation with the Board, give such directions to the Board as are necessary in the circumstances of the case. |
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| (3) The Board shall give effect to any direction given to it under subsection (1) or (2). |
| (4) The Board shall not disclose any direction given to it under subsection (1) or (2) if the Minister notifies the Board that he is of the opinion that disclosure of the direction is against the public interest. |
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