Andy Gan Lai Chiang
Singapore
“Given that Singapore is building more sporting facilities and moving the country towards being a sports hub, physiotherapists are needed here. They are healthcare professionals and ought to be treated as such in order to attract them here.”
“The difference in hospital fees will come in only from the choice of class of beds. So all taxpayers and non-taxpayers are given the same medical attention at the subsidised rate applicable according to the different medical conditions that the patient is in.”
“Tied to the insurance service providers for the maritime industry, a question remains as to what measures have been implemented to make Singapore a more attractive base for specialist insurers to take root in Singapore, for example, regulatory changes and specific GST and tax incentives, to make it conducive for specialist classes of unde…”
“The way for us to move then is summed up by the Prime Minister in the Budget Statement, ie, for there to be "Singaporeans' support for a social compact that looks after the vulnerable in society that will make us a caring and inclusive community". Sir, I support the motion.”
“It is noted that underlying the changes to the TCA, protection of the beneficiaries and social conscience is apparent. Given the foregoing, it is suggested that unless the aims of the TCB are to benefit all persons, a change to the TCA with the implementation of the TCB may not be useful to the wealth management sector of our economy.”
“We are blessed with a good and strong Prime Minister, together with his capable Ministers, who will require our utmost support and loyalty to lead us towards a country that is family-centric, successful and prosperous. Let us all be reminded that no one knows what the future holds for tomorrow, but we can be prepared for it.”
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“These family trust types of trust companies do not have to submit themselves to be registered under the TCA, as the TCA only provides for public companies to voluntarily submit themselves for registration, if they meet the registration criteria as provided for in section 3 of the TCA and if they comply with the objects set out in section 8 of the TCA. With the advent of the TCB, the existing family trust type of trust companies may find it difficult to obtain a trust business licence for the following reasons: (a) The family trust type of trust companies may not be able to meet the minimum financial requirements imposed by the MAS. (b) The directors of the family trust type of trust companies may not satisfy the MAS in terms of their financial standing, educational qualifications or experience. (c) The requirements on control of voting powers and shareholdings imposed by Part III of the TCB may render the companies or directors incapable of obtaining the requisite approval, given the obvious familial connections and relationships of the shareholders and directors. With the advent of the TCB becoming law, the common people wishing to set up family trusts will have no alternative but to turn to licensed trust companies, banks or merchant banks to avail themselves of such services. Given that these licensed trust companies, banks or merchant banks are commercial entities (as opposed to family trust types of trust companies), a family who wishes to set up a family trust may find the cost of engaging or hiring a licensed trust company to be prohibitive. It is noted that nowhere in the TCB are limits or ceiling set on remuneration to be paid to the licensed trust companies.”
“" The Vanuatu Trust Companies Act defines "trust business" as the "business of acting as trustee, executor or administrator". Given the wideness of the definition of "trust business" as set out by the TCB, it appears that the following persons may be adversely affected by the implementation of the TCB when it becomes law: (a) the family trust type of trust companies that were specifically formed for the purpose of creating a family trust; and (b) lawyers and accountants who, as part of their professional practice, may be instrumental in the creation of trusts or the arrangement of persons to act as trustees. Clause 15 of the TCB exempts specified persons from obtaining a trust business licence but is nonetheless regulated by the provisions of the TCB. As it stands, only banks licensed under the Banking Act and merchant banks approved as financial institutions under the Monetary Authority of Singapore Act are exempt from obtaining a business trust licence. The family trust I would now like to touch on family trust. Under the present regime of the TCA, a family who wishes to set up a family trust could do so by incorporating a private limited company, with themselves as directors and for the company to hold monies and/or property on trust for their children. They could seek advice from their lawyers who, more often than not, would draw up the necessary documentation and set up the appropriate trust to suit the purposes of the family. The pecuniary amounts to be held on trust could range from small to large. Likewise with the size of immovable property. The cost for setting up such family trusts was also not prohibitive.”
“Apart from Hong Kong, Singapore is the other significant country that is well poised to handle trust businesses and, given our existing financial services infrastructure, Singapore can become a trust business hub in Asia. With this in mind, I would like to raise some matters of concern on the TCB. Scope of TCB Firstly, I am concerned about the scope of the TCB as set out. Please let me elaborate. Clause 3(1) of the TCB provides that, subject to certain exempted persons as specified in the Second Schedule, no person shall carry on any trust business or hold himself out as carrying on any trust business in or from within Singapore unless that person is a licensed trust company. A licensed trust company is defined as "a corporation holding a trust business licence". By virtue of clause 5 of the TCB, a trust business licence can only be granted to a company incorporated under the Companies Act or a foreign company duly registered under Division 2 of Part XI of the Companies Act. Next, "trust business" is defined in the TCB as follows: (i) the provision of services with respect to the creation of an express trust; (ii) acting as trustee in relation to an express trust; (iii) arranging for any person to act as trustee in respect of an express trust; and (iv) the provision of trust administration. In comparison, the Labuan Trust Companies Act defines "trust business" as the "business of carrying on any economic activity by a company as a trustee, agent, executor or administrator pursuant to the objects of the company ...". Section 9(3) of the Trusts (Regulation of Trust Business) Act 2001 of Bermuda defines "trust business" as the "provision of services of a trustee as a business, trade, profession or vocation.”
“Mr Speaker, Sir, I stand in support of the Trust Companies Bill 2005. The Trust Companies Bill extensively revamps the present Trust Companies Act (TCA), and the proposed new provisions of the Trust Companies Bill (TCB) strengthen the present regime of the TCA by giving it a purposive and compulsory regulatory framework, which aims to provide better security and safeguards against potential abuse and proliferation of monies entrusted to the trust companies, as explained by the Minister. Trust business in Singapore As pointed out by the Minister, trust business has grown in Singapore in tandem with wealth management and private banking industry in Singapore. Trust business can be lucrative. The Bermudas, Guernsey, Jersey, the Cayman Islands and the British Virgin Islands, for example, are well known for having financial services providing trust business. Singapore, however, is well placed to attract trust businesses for the following reasons: (i) we have an excellent legal framework and infrastructure for trusts to be created and for any disputes to be speedily and efficiently dealt with by the courts; (ii) we have excellent accounting practices where trust companies may be assured of correct practices; and (iii) we have major local and international banks for which the trusts may be banked with. With such advantages, we must be mindful that too much regulation should not be allowed to hamper or hinder any interested potential trust companies from wanting to set up shop in Singapore. While regulation as a means of transparent control is good, the MAS has to weigh the rigours of regulation and that of incentive measures to make Singapore an attractive financial hub for trust companies to park.”
“We are blessed with a good and strong Prime Minister, together with his capable Ministers, who will require our utmost support and loyalty to lead us towards a country that is family-centric, successful and prosperous. Let us all be reminded that no one knows what the future holds for tomorrow, but we can be prepared for it.”
“Government Ministries must be upgraded to facilitate changes, and work with Singaporeans to achieve, rather than just enforce and regulate, and sometimes compete. Employment for those retrenched as a result of the economic slowdown over the last few years has to be addressed at a greater pace. Now that the signs of improvement are emerging, we must not be tempted to take the short route to economic recovery in creating employment through high-risk ventures and ventures that make money out of the miseries of others, as this does not promote a culture of hard work and long term gain for all. Stability and good work ethics will promote a reliable workforce that the economy can thrive on. Finally, we may be fortunate to be located at a position in the globe well protected geographically and relatively free from earthquakes. But we cannot take for granted that no natural disaster can strike us. Other forms of disaster can happen, and it may take the form of a terrorist strike or accidents, such as a plane crash or a collapsed high-rise building. Survival is more than just how much money we can amass. After all, it is only a means of exchange for goods and services. We must go back to the basics and learn to be resilient in troubled times and alert in good times, learn to be free from a routine and comfort zone and learn to make do with what we have and be thankful that we have a good Government to plan and lead the people through the ups and downs of economic cycles and unforeseen calamities, like the economic downturns, SARS, bird flu and, in the region, the Asian tsunami.”
“Our schools must allow opportunities for students to make mistakes and learn from them as they compete with one another. In business, those who have failed to make it must be given the leeway to make a comeback and be successful. Such a robust environment will see more battle-scarred and mature citizens meet the uncertain future with confidence and succeed in overcoming any obstacles that may block our country's progress. The more successful ones can also go further in exploiting promising technologies, like biotechnology, photonics and nanotechnology. A thriving economy will thus give us the confidence and resources to tackle whatever challenges that may lie ahead. While a new generation of workforce takes over, we must not forget those who have contributed much to our country's growth. In the President's Address, it was mentioned that we must enable more Singaporeans to continue working into their 60s and take advantage of new avenues of employment. This means that workers and employers have to rethink their approaches on how to restructure and re-invent their workplaces so as to enable people of all ages to participate in the growth of the business. Wages will have to be redesigned and made more flexible, balancing the needs of workers and employers, yet enabling companies to remain competitive. A spirit of self-reliance must be taught, so that our workforce can be robust and adaptable, while Government Ministries must be sensitive to changes in the marketplace to allow employers in the private sector leeway to manoeuvre through the complex maze of laws and regulations governing corporations, big and small.”
“The Ministry of Transport's vision to grow Singapore as a hub port for all types of high-value cargo, such as containers, vehicles and petrochemicals, and maintaining our position as a top bunkering port in the world, will certainly bring us closer to the world community and assist businesses in feeling the pulse of economic activities in various parts of the world. In aviation, the incentive package to the Air Hub Development Fund to attract airlines to call at Singapore, together with the adoption of a liberal air transport policy, will help Singaporeans maintain a connection with other cities and emerging markets in China and India. Keeping Singaporeans healthy and fit is also a way to ward off potential dangers from diseases and maintaining a healthy workforce. To prepare ourselves to achieve this priority, I join my parliamentary colleagues, such as Dr Warren Lee and Mr Chay Wai Chuen, in supporting Minister Khaw Boon Wan's effort in keeping our health costs affordable to many more. With Medisave, MediShield and Medifund schemes in place, our battle against unforeseen health problems and their related costs will be greatly minimised. Singapore's success in dealing with infectious diseases, such as SARS and avian flu, should also provide our medical team with good experiences when responding to any outbreaks that the future might bring. While the Government may be effective in its efforts in disease prevention, the people themselves must also not lose their immunity to ward off dangerous and deadly viruses. In preparing for a new generation of Singaporeans to build on what has been achieved today, we have to prepare them to engage the future with passion and commitment, as our forefathers did.”
“Minister Teo Chee Hean himself is travelling again tomorrow to those affected areas to make sure our efforts are continuing. The seven priorities set out by the Government in the President's Speech are important pillars for our country to progress from. Even as the Government seeks to add value to the country's economy through these efforts, an underlying tone is for the people and the Government to secure what has been achieved and anticipate, where possible, for cyclical changes in fortune. In this respect, I would regard the priority to build a safe and secure environment an important aspect of our survival. A strong SAF, at a high level of operational readiness, will keep us on alert, and is a constant reminder that we treat security seriously. With this, can we then provide a safe environment to build a firm foundation for achieving all of our aspirations. Peace and security translate into economic returns so that our nation will be able to thrive at an orderly pace, growing organically and keeping ahead in a sustained momentum. Securing Singapore's place in the world and nurturing our relations with other countries is also another important priority. Such an attitude, in making sure that we also work peacefully with our ASEAN neighbours, helps bring prosperity to the region and to Singapore, as more economic activities flow through each other's economy. Our links to the rest of the world will ensure that we are in touch with world trade and developments, so that we can anticipate any unfavourable economic conditions looming over the horizon, together with any possible threats to our country, especially in the area of transnational terrorism. Our transport infrastructures are world-class, and we must use them to reach out to the rest of the world.”
“Mr Speaker, Sir, I stand in support of the motion thanking the President for his Address. President Nathan opened the Second Session of the 10th Parliament with an inspiring but cautious message from the Government, reminding us of the fateful day on 26th December 2004 when thousands of lives were lost along the shores of countries surrounding the Indian Ocean. If anyone were to have broadcasted the warning to those enjoying the sunny beaches at Phuket, Sri Lanka and Aceh on that fateful day that there would be a strong tidal wave approaching and waiting to be unleashed along the shoreline, he would have been mocked and laughed at. No one would have expected that peaceful sea and clear blue sky to bring water travelling at speed of over 600 km per hour setting off a natural disaster of such a scale that no one could have imagined it to be. One minute, families were happily playing along the beach or swimming in the water, yet the next moment, disaster struck with such a force that few could miraculously escape from it. This event caused massive loss of lives and properties. It only goes to show that we may never know what would happen tomorrow or what life would bring. But we can and must always be prepared for whatever calamity life brings. And prepared we are. The swift and efficient response to the tsunami calamity by the Singapore Government through the quick delivery of food, water and medical aids, not only saved many lives from being lost but also brought pride to our nation. It demonstrated how willing and prepared we are in assisting our neighbours in time of need. We have not come a long way yet as a nation. But our arms of comfort and help are felt further than the tremors of the earthquake of Aceh.”
“I understand from the Ministry that the Neighbourhood Link at Tanjong Rhu will be established in about a year's time. That is the reason why I asked this question whether any more tenderers are coming along the way.”
“Sir, just now, the Minister of State mentioned that the Ministry has awarded a tender for Neighbourhood Link and that there is only one successful tenderer so far. Is that for the Mountbatten Estate in Tanjong Rhu? If so, when will that be implemented?”
“I thank the Minister of State for her reply. I have two supplementary questions, Sir. Firstly,since the Minister of State has mentioned that Singapore will be a major transshipment hub, does she see this as an increasing trend for the port here? Secondly, is our share of market for all the international shipping lines increasing as well?”
“Sir, can the Minister please explain what he means by "gas price is indexed to the oil price", especially when they are from different sources?”
“Such disputes may escalate and one party or parties that have a lot to lose may appeal to the Minister andAdvisory Committee and an Appeal Advisory Panel may be appointed to deal with these matters as provided for inclauses 88 to 91. May I find out from the Minister whether such Committee and Panel Memberswould be made known to the business trusts so as to provide transparency and confidence to the public? Business trusts are on-going businesses and, as such, would have credit lines with their suppliers. In normal circumstances, trusteesare responsible for any debt incurred by the trusts and, in this case, under the business trusts, it is the same practice. However, business trusts may be listed as public companies and are larger than, say, a typical familytrust, and suppliers are exposed togreater financial risks. May I ask the Minister whether the creditors of business trusts have any rights that are better than any other trusts? As far as I know, creditors could only claim from the assets of the business trusts via the rights of indemnity of the trustee-manager, as my colleague has pointed out. As such, creditors may not want to do business with business trusts under the current level of protection that the Bill accords. However, looking at the opportunities offered, business trusts are interesting new models from which businesses could operate from and it provides a good avenue from which wealth could be created and protected. With somecreative financial planning, business trusts could be a good vehicle for wealth to be managed properly for generations to come. Mr Speaker, Sir, I support the Business Trusts Bill.”
“This point is important as the trustee-manager couldbe penalised on many potential lapses of duties, as well as having to carry on a heavy load of expenses such as professional directors and audit committee members. Its fiduciary duties also open it to potential professional negligence and its cost of corporate governance would be high. There could be times when the risks-to-reward ratio ofa trustee-manager may not be that attractive enough to attract the right skills in managing the business trusts. Hence, a trustee-manager, I presume,has to be a company of good financial standing. Furthermore, the trustee-manager should be well-positioned financially to absorb high penalties. For example, clause 12(1) and (5) relatesto the duties of directors or trustee-managers to disclose interest in transactions or when holding any office or possess any property which might be in conflict with their duties. Such lapse in declaration could be innocentlyleft out in these days of complex business transactions, but without any damage to the business or the business trusts as well, but the directors may still be found guilty with a possible fine of up to $100,000 or to imprisonment for a term of not more than two years or both. On top of this, a further fine of $10,000 for each day such offence continues after conviction may be imposed although, in such cases, a fine is necessary and sufficient warning has been given. Business trusts, like any form of trusts, have to contend with beneficiaries who are not satisfied with the way a business is run by the trustee-manager or are in dispute withfellowbeneficiaries.”
“Sir, ever since when I was doing my post-graduate studies in accountancy, trusts have been a popular subject. Then it was a popular vehicle not only for wealthy families to manage their wealth to ensure a smooth transition to future generations, but has also been used to manage family businesses while the owners of the wealth are still alive. Trusts have also been used by business partners, especially professionals such as doctors and accountants, who wish to separate their personal assets from their professional services in order to reduce exposure to heavy taxes and other potential liabilities. Besides being a useful vehicle for tax and estate planning purposes, a trust in whatever form has its downside in that it has to be managed by a trustee, whom the settlor and the beneficiaries could depend on managing the trust. However, I am happy that Singapore would now have trusts that are actively engaged in business to be registered as business trusts and operate within its own legal framework. It could also raise funds from the public and act like a public-listed company. This would add depth to our capital market and clearly enhance the sophistication of our financial market. On the subject of trustee-manager, clause 6 states that the trustee-manager is to be a company that does not carry on any other business other than managing the affairs of the business trust. Clauses 7 to 17 spell out its powers and responsibilities. However, could the Minister comment on how much should the trustee-manager be capitalised as well as its net worth before it is being allowed to act?”
“If he succeeds, the court can order the infringer to stop his infringing activities, which is to give an injunctive relief, or to pay the grantee damages or to render an account. Indeed, this process is no different from many other countries, and it is also provided for under the UPOV Convention. Finally, Mr Gan asked what if the wrongful act is committed in another country. Madam, the plant varieties protection system is territorial in nature, much like the protection systems for patents and trade marks. The intent is to ensure that IP rights owners - in this case, plant breeders - only file for protection in countries where the plant variety will be exploited. Therefore, in countries where the plant breeder has filed for protection, he can bring suit against infringers under the foreign country's jurisdiction. I think I have answered all of Mr Andy Gan's points. We all learn something new every day. I think this is something quite scientific and technical. But whatever it is, one day, we may very well be eating blue chye sim! Question put, and agreed to. Bill accordingly read a Second time and committed to a Committee of the whole House. The House immediately resolved itself into a Committee on the Bill. - [Assoc. Prof. Ho Peng Kee]. Bill considered in Committee; reported without amendment; read a Third time and passed. MANUFACTURE OF OPTICAL DISCS BILL Order for Second Reading read.”
“Under the UPOV Convention, and also provided in the Bill, a particular variety must be distinguishable from many other varieties before it can be considered for plant variety protection. The Agri-Food and Veterinary Authority (AVA), who are the technical experts in this matter and who will be the body conducting the technical examinations, has confirmed that when one plant cannot be distinguished from another plant, they are considered the same variety. Hence, under clause 29, protection is extended under a grant of protection to plant varieties which are not distinct from the protected plant variety, in respect of which the grant of protection is being made. Hence, if a company applies for protection for a particular variety but is told that this variety cannot be distinguished from another one that is already protected, it cannot sell its variety. Any unauthorised commercial exploitation of the protected plant variety will be considered an infringement of the grantee's right. This must be so, because this is the basis for introducing such a system in the first place. The last question Mr Gan asked is how a plant variety right can be enforced. It is the grantee himself who enforces the right, which the new system gives him. The approach is no different from that under our patent system, which has generally worked well. Essentially, the grantee himself makes an assessment whether or not it is worth his while to enforce his rights against a suspected infringer, by commencing civil proceedings in court. Under this approach, as it is the grantee who brings the action, the onus is on him to prove that an infringement has taken place.”
“The first is whether a plant variety is still protected if the grantee is no longer actively propagating the plant. Madam, the answer is yes, as long as the propagating material is maintained such that it remains available for further propagation and testing if necessary. Examples of propagating materials include seeds, cuttings and buds. This condition is set out in clauses 24 and 26 of the Bill and, again, springs from the UPOV Convention. The purpose of this new system is to spur discovery and the development of new varieties of flowers, vegetables, aquatic plants, which we can then all enjoy. Hence, we should encourage the breeders to ensure that variety continues to be available so that all of us can benefit. Who knows, one day, we may all be eating blue chye sim, as a new variety! But let me assure Mr Gan that our intent is not to make it onerous for the breeder to retain his right. Hence, it is not necessary for the breeder to propagate the protected plant variety on a large commercial scale, and this meets Mr Andy Gan's concern as to the scarcity of farmland to maintain the plant variety. Maintaining a plant variety can involve simple steps, such as maintaining some plants for the purpose of obtaining cuttings and buds or storing the seeds properly. Therefore, if such a breeder maintains his variety, he can then have the right to exercise his rights under this scheme, and the right will include marketing the variety under royalty, which is Mr Gan's point. The second question is: if a company applies for protection and the application is turned down because the plant variety cannot be distinguished from another variety which is protected, can the company still sell a variety that is not protected? The key point here is that the application has been turned down.”
“Secondly, if a company applies for plant varieties protection on, say, Variety A, and the application is turned down because the plant variety cannot be distinguished from other varieties, for example, Variety B, and if Variety B is protected, can the company still sell Variety A? Or would that be considered a violation of Variety B's variety protection? Lastly, how would the process of enforcement of a particular variety be carried out? Is it by a governmental agency or by the grantee himself? And what if the wrongful act is committed in another country? Hopefully, whatever it is, the process will involve industry players' sense of good business practice and ethics. New varieties of plants can be protected as it benefits the country economically and it would also encourage breeders and growers to confidently pursue their research in new plant varieties. The environment will also be the beneficiary as plant produces oxygen and promotes the well-being of all living things. Assoc. Prof. Ho Peng Kee: Mdm Deputy Speaker, I thank Mr Andy Gan for his support of the Bill. He is a plant breeder, a rare breed. He has made several interesting points and also asked a few questions, which I will take in turn. First, let me respond to Mr Gan's desire to see the plant varieties protection scheme grow, ie, extended to more plant species. He will be happy to note that, indeed, that is what will happen because, under the UPOV Convention, which we will accede to, we will have to extend protection to all plant species within 10 years of our accession. This will, as Mr Gan puts it, facilitate Singapore in becoming an important centre for the registration of new plant varieties. The Member has asked three questions.”
“New varieties of flowers and variegated leaves in heliconia and hibiscus can be quickly propagated and grown in the airoponic system developed by Dr Lee Sing Kong from NIE. Such airoponic system will also allow temperate plants to be grown in tropical Singapore and form an excellent complementation of resources and systems. Looking further, new breeds of vegetables with anti-cancer, anti-cardiovascular disease properties, as discovered by Dr Chia Tet Fatt, can be bred with lettuce and grown under the airoponic system, developed by Dr Lee Sing Kong. Such research in genetically modified vegetables, after being rigorously tested for safe consumptions, can be released to the public to be bred as new varieties and protected under the Plant Varieties Protection Bill. This Bill is very important if Singapore is to set itself going in the area of life sciences. And to tackle this subject with confidence, basic protection in plant research will need to be strengthened. Hence, the Bill sets me thinking of some areas that I will appreciate it if the Senior Minister of State could clarify. Firstly, what is not clear in the Bill is that if the grantee has sold, say, seeds of a particular variety, can he still have it protected even though he is no longer actively propagating the plant, while the new owner is propagating it under licence from the grantee, that is, can the grantee market his discovery under royalty while not actively propagating the seeds anymore? This is important as Singapore has limited farmland to propagate the plants and this function has then to be done in countries that have abundant farmland.”
“As the right of protection can now be granted to an applicant for any species discovered, it has created a potential commercial value for the result of research done in that it now becomes the personal property of the applicant. Clause 28 of the Bill provides for the possible assignment of a grant of protection and the grantee is entitled to prevent any person from carrying out propagation of the same species of plant without the authorisation of the grantee. This protection will help spin a whole new line of business in horticulture and will encourage tissue culture propagation on a wide scale. Research on new plant varieties will be encouraged with scientists having confidence that the findings are now being protected. Although the Schedule to the Bill only lists the names of eight species of orchids, five species of aquatic plants and ornamentals, and two types of vegetables, it is my hope that this will grow in time to cover more plant genera and species, thus making Singapore an important centre for the registration of new plants. Techniques used in life science, such as hybridisation and DNA finger printing, can be applied to new orchid hybrids aiding in plant identification, while other genetically modified procedures can aid in more discoveries. For example, Dr Chia Tet Fatt from NIE has genetically engineered the world's first glowing orchid by splicing the firefly genes into the orchid plant, allowing the plant to glow in the dark. And by crossing these glowing orchids and other plants, more varieties of glowing orchids can be obtained. Another example of the application of this Bill would be in the area of ornamental foliage plants.”
“Mdm Deputy Speaker, I rise in support of the Plant Varieties Protection Bill. Before I begin, I would like to declare my interest in this Bill as Managing Director of Hydroculture-Scape Pte Ltd. Very often, one would hear that an invention or a particular engineering design is being protected by patent rights while not often, do we hear that plant species can also be protected by law. Although we commonly hear that Singapore orchid growers name their hybrids after themselves or sell the naming rights to others, these orchid breeders, such as Teo Peng Seng and Yusof Alsagoff are however not protected by law if someone were to copy or clone their particular orchid plant. Even students in our schools doing orchid hybridisation programmes are now producing many orchid hybrids which are not protected by law. Alongside with orchids are ornamental plants, like heliconia, hibiscus, croton, money plant, coleus, to name a few, which are useful plants for our environment and are used extensively in greening our landscape gardens and, certainly, in most household decorations. Such plants are in great demand and new varieties can be bred or obtained from spontaneous mutations. New breeds of ornamental aquatic plants are also being bred regularly and export demand is strong as in ornamental fish exports. I am happy to note that this Bill before us will to a certain extent solve the present problem of protecting certain plants by giving the person who discovered the plant variety a legal right to his discovery. Clause 21 of the Bill gives a grant of protection to a successful applicant in respect of his plant variety.”
“Such schemes may sometimes create artificially high demand for places in schools that are within the congested built-up areas, as students are forced to apply to the nearest school, which may or may not have sufficient space for all the students living there. In such instances, parents become highly stressed, as they are not sure whether their child will be assured of a place in the nearest school of their choice. Schools may not have a good mix of students from other neighbourhoods, if only students staying within one kilometre are encouraged to study there. A good cultural and social mix may not be achieved if students from the east are not mixing with students from the west of Singapore. In comparison, parents in Hong Kong may make three choices of schools in or outside the school net in which they reside. Under the system, Hong Kong is divided into 47 school nets. Parents select primary schools available in their school net in order of their preference, and a computer programme will process the school choices. The order of priority in allocating places will be determined by random numbers generated by the computer for individual applications. This is to ensure fairness to all applicants. I ask the Minister to review the priority scheme for Primary 1 registration based on distance between the home and the school.”
“I would like to touch on the subject of priority of Primary 1 registration based on distance from school. Come July every year, Singapore parents with Primary 1 school-going children will start registering their child for Primary 1 education at the school of their choice. As parents become more aware of the competition faced by their children, most start their search for the choice school a year in advance, or even two years, when a child is four. Under the present regulations, should the number of applications for children who are Singapore citizens, or Singapore permanent residents in Category 1, exceed the number of vacancies in any phase, places will be balloted according to the following order of priority:- (1) Children living within one kilometre of the school of choice; (2) Children living within two kilometres of the school of choice; and (3) Children living outside two kilometres of the school of choice. Sir, such a policy, with emphasis on the distance between a child's home and the school, has an adverse social impact. We will see an increasing trend of parents moving house to stay within a kilometre of their favourite schools. It is common to see property advertisements indicating the location of a new housing development within a kilometre of a top primary school. This has resulted in a backlash of excessive man-made clutter in the environment. Many urban areas near to popular primary schools are now congested, and residential developments are being developed in small parcels of land tightly packed in between two existing buildings. A preferential scheme based on distance causes tension on urban planning and compromises the townscape. We all have a duty to consider how these flaws in the urban fabric might be repaired.”
“The reasons for Class C wards need to be reiterated and perhaps regularly reviewed to meet changing economic and social norms. It is equally important that at the time of admission, the inbuilt administrative system takes the individual's prevailing circumstances into consideration. Estimated total hospital charges together with hospital fees should be made known to the patient, even if he or she is entitled to a higher subsidy, as the patient's share of cost may be too high even for some to bear. For example, if a patient is out of job and cash poor, this should be reflected when the patient is being considered for subsidy. We should be careful against creating excessive bureaucracy in carrying out means testing. Processes should be simplified and patient's interest should be placed first. Perhaps the human touch should be reprioritised to a higher plane of importance. Medical Subsidy”
“Sir, cost issues on healthcare will never go away, as healthcare is a highly skilled and highly personalised service. High standards of medical services never come cheap, especially as new medical equipment and drugs are being introduced regularly. Furthermore, as our population ages, there will be a greater need for more medical services. And with higher expectations, greater costs will be incurred. The minimum level of medical services rises as the population grows to accept a higher level of medical care. Hence, I support subsidised class wards in general, as most people cannot afford modern medical and hospital services. As affordability differs from one person to another, means testing is necessary to determine the level of subsidy that one is entitled to. Means testing has already been practised in restructured hospitals. It is also carried out for patients who need to be referred to community hospitals or who apply for Medifund. Having means testing will ensure that those who are least able to pay have the greatest help from the State. However, medical care is not just about balancing cost and revenue. It requires finesse to manage people's expectations. The greatest drawback of means testing is that it transfers the power to choose from the individual to the State. Whilst I applaud the Ministry's good intention of making sure that the needy gets the maximum help, the Ministry should also make efforts to reassure the public that their interest will be looked after, no matter which level of income they fall into. Individuals that fall into the middle income bracket usually end up being squeezed in two ways. They do not qualify for subsidy nor can they afford the high cost.”
“And I find that most residents in private estates are supportive once such guidelines are known and the centre operators observe them. Service providers should be made to provide for adequate vehicular drop-off and pick-up points, smooth traffic flows for the residents and pay attention to general road safety requirements. Even as we relish having more of such services, we should refrain from compromising the standards of proper urban planning and the privacy of private residential owners. Before and After School Care”
“Sir, I would like to speak on the proliferation of childcare centres in private residential areas. Providing childcare centres is now a necessity and a priority as the Government explores ways to encourage procreation. As more calls are made to provide infant care and childcare centres, it is timely that we assess the location of childcare centres in private residential areas. Existing MCDS guidelines state that "permanent permission is granted to service providers of childcare centres, student care centres and kindergartens meeting the requirements of MCDS and MOE to operate in civic and community institutional buildings, educational institutions, commercial buildings, HDB void decks and non-landed residential developments. Temporary permission is granted for such centres to operate from landed housing estates, including semi-detached houses and corner terrace houses." Locating childcare centres in private residential landed property should not be encouraged for long-term use. There is a real need to have appropriate guidelines established to ensure that childcare centres complement the existing environment and do not adversely affect the peace and quiet of the private estates. Within private landed properties in Mountbatten alone, there are about 20 childcare centres, some of which are located close to each other. While I support the need for more childcare centres, and I am ready to work with MCDS to find suitable alternate sites for these centres, urban planners and approval authorities should keep in mind residents' needs on how such a proliferation of childcare centres would affect the residential landscape. Guidelines requiring neighhours' support should be made.”
“Rain water harvesting is gaining popularity as people learn more about the advantages of collecting water in its natural state. As a precaution against possible contamination of the public's piped water, we can legislate that families collecting rain water install proper equipment, and require that the rain water system does not contribute to mosquito breeding by having an uncovered system. Future Water Supply”
“I share the same concern of Prof. Low Seow Chay about saving money on untreated water. Before the advent of today's modern water treatment facilities, many people rely solely on the collection of rain water for households, landscape and agricultural uses. In water-scarce Singapore, Singapore's abundant rainfall of about 1,700 millimetres is a natural source of precious water. Instead of allowing the rain water to run off into the rivers, we should allow Singaporeans to collect it where possible. Resident living in private homes will find it relatively easy to collect rainwater for non-drinking purposes, while HDB dwellers can rely on their Town Councils to collect water in certain areas, such as markets and car parks, for general cleaning purposes. Rain water collection and harvesting can simply be described as channelling the rain water collected in gutters through a sediment filter and, finally, into a storage tank for later use. Harvested rain water can be used to wash cars, water plants and cleaning purposes. In some parts of the world, people still depend on rain water collection to meet most of their water needs. Even in those communities where many residents are supplied with public water for drinking, home owners and businesses are turning to rain water collection systems to meet non-potable water needs, such as landscape watering especially in the dry regions of the US. The advantages of self-collection are two-fold. Firstly, from the nation's point of view, more water can be stored for human consumption, instead of wasting treated water for cleaning. Secondly, consumers in the private estate will be saving money by spending less on their water bills while Town Councils will spend less on cleaning the common areas.”
“I propose that MND initiate a plan to incorporate handicapped-friendly footpaths for travel to important locations within the HDB precincts where the handicapped can have easy access to critical services and public transport. This can serve as an example for private developers to follow suit as well. HDB can work with the handicapped interest groups and the community to identify the needs and solutions and require developers to provide safe and convenient access, shelters from elements and safety features. We have to stay away from the misconception that handicapped-friendly facilities are no more than just having ramps and parking lots for the handicapped.”
“Sir, in this environment conscious era, there is a huge opportunity for people with disabilities to make more productive contributions to society. If we can facilitate their mobility, the social divide for people with disabilities will shrink. MRT stations, HDB flats, commercial buildings have improved tremendously over the years to provide more handicapped-friendly facilities. What is lacking are appropriate connecting facilities between buildings for better access for persons with disabilities. Just to illustrate, most of the sheltered walkways today offer little protection to wheelchair bound pedestrians on rainy days. We should also improve access to public transport for people with disabilities. It is almost impossible for wheelchair bound persons to take a bus, the footpath from a block of flats to the bus stop and steps leading to a bus stop are really challenging deterrents, let alone getting up the bus. The current design of overhead bridges is definitely not a solution for the handicapped to use to cross the roads. In fact, the overhead pedestrian bridge over Old Airport Road and Mountbatten Road is not popular with the residents at all. And it breaks the link of footpaths within the HDB blocks. They rely mainly on taxis and rely very much on the charity of the taxi drivers to bring them round. We should progressively improve the environment and encourage physically challenged persons to be more mobile. Designing footpaths and linkways that are handicapped-friendly will also mean that senior citizens are likely to enjoy the ease of use and being friendly and safe, children will also benefit from such designs.”
“Public housing programmes must be flexible enough to meet the rapidly changing needs of our population, especially when the affordability factor in home ownership is becoming a greater burden with more uncertainty in the earning power for the majority. 3.30 pm”
“Sir, many a time, I have received appeals during my meet-the-people sessions from residents facing financial hardship, especially senior citizens who face difficulties making payments for their flat instalment plans. This averages about three cases per week. They all wish to rent a flat from the HDB after selling their properties. I am aware that the HDB has many assistance schemes to assist those who fail to keep up with HDB instalment plans. One is to defer the housing payments for an initial period of six months, with a further extension of another six months, if necessary. But this only offers the residents temporary reprieve from their financial problems. Many hard-hit residents who have no means to maintain the HDB financial instalment plans would always choose to sell their flats to raise money to pay off what they owe to the HDB, which can run up to an amount beyond their reach. Their next course of action would be to ensure that they secure a rental flat from the HDB, as a private flat would be too much for them to afford. Unfortunately, the 30-month restriction rule bars them from renting a flat from the HDB. For a more permanent solution, can HDB review the 30-month restriction and consider shortening it? HDB should also consider building flats for short-term purposes, so that families which are facing domestic difficulties as a result of family problems or financial hardship can resort to such services to have a roof over their heads. Such services should also be open to singles who may need short-term accommodation before they obtain their purchase flats.”
“Thus, I advocate that the Government should try to link road taxes and the use of such funds to improve public transport. Tax Relief”
“Sir, there was a significant change in the motor vehicle tax structure when the Electronic Road Pricing was introduced in April 1998. A package of road tax rebates was given and the ERP went into effect. Motorists accepted the change as it reduces the cost of road taxes to them. For FY 2003, total revenue from motor vehicle taxes has increased to $1.8 billion, the bulk of which (or about 61%) was derived from the additional registration fees, and 35% was from road tax. Come FY 2004, there is a moderate projected increase of 14%. I put forth to the Minister to elaborate on the usage of this significant harvest in motor vehicle tax collection for FY 2003. My concern stems from the notion that such huge collections must, first of all, be channelled to making transport more affordable to the community at large. The increase in motor vehicle revenue does not stop a parallel increase in usage of our roads. This, in turn, would mean a greater toll and strain on our road systems. I maintain that the revenue from motor vehicle taxes be rightfully channelled to fund construction of highways, tunnels, roads, pavements and to provide for their maintenance, specifically perhaps to make our road network more disabled-friendly as well. Making our roads safer for pedestrians is often ignored as we seek to find ways to improve the flow of traffic in order to save travelling time, instead of preparing the road system to make it more user-friendly to the aged and handicapped. Overhead bridges can be improved to ease pedestrians crossing from their homes to, say, MRT stations and bus stops. Besides making the roads safer for drivers and pedestrians, the funds can be used to improve public transport such as the MRT network.”
“As some might have noticed, more are offered in the appendices to the Budget Statement than in the Statement itself. The Minister has, in addition, said that this Budget will deliver $1 billion of tax savings and Medisave and Medifund benefits for business and individuals. Hopefully, together with the Minister's forthcoming policy on procreation, we can all see a fiery dragon in the next dragon year instead of a lizard.”
“However, if this investment income is now earned directly by the taxpayer, it would be tax exempt. Another issue that needs further clarification is the method used to determine how much indirect taxes are due to the taxman when Government grants are involved. With more emphasis being placed on getting companies on the right footing through Government grants, some anomalies need to be addressed in respect of the Goods and Services Tax (GST). The current view is that where grants are given for no specific supplies of goods and services, these grants do not attract GST. As the grants are not subject to GST, it must mean that the recipient is involved in non-business activities. Thus, the recipient's input tax claims cannot be claimed in full and must be limited. This has caused much anguish and difficulties to companies, especially new ones that have benefited from Government grants as part of the Government's efforts to promote certain economic activities or to enable them to provide low-cost services. These companies are normally run on shoe-string budgets and do not have the luxury of time and money to explain to the tax authority about their business arrangements and to appeal for greater apportionment of input tax claims on GST returns. If such a situation arises, it would mean that the cost for these entrepreneurs will go up. Hence, the advantages of the grant have to be weighed against the hidden costs incurred in getting a fair amount on input tax claims against the output tax. In conclusion, I understand the Minister's real concern is in the future size of the population. With no specific measures as yet to be tabled, I suggest that Singaporeans concentrate their time in seeking out all opportunities created by this year's Budget.”
“Secondly, some years ago, when I was an accountant with a bank, it was told to me many times that the Monetary Authority of Singapore has a strong dislike for banks and its customers to indulge in round-tripping, and that was to be highly discouraged. Round-tripping simply means putting what might have been regarded as Singapore-sourced income offshore and recycling it as exempt. With the new competitive tax regime just introduced to exempt foreign-sourced income, has this fear now been forgotten in the interest of the Singapore wealth management industry? Thirdly, why is it that exemption of foreign-sourced income for individuals not applicable if it is received through a partnership in Singapore? Any partnership simply pools its resources together for investment purposes so as to have a better bargaining power and, thus, a better margin on their returns. It seems that partnerships are now better confined to non-investment income businesses, and that the partners will be forced to invest personally overseas than through a partnership in the tax planning exercise. Turning to the exemption of Singapore-sourced investment incomes for individuals, it is not clear whether non-resident individuals are included in the exemption. If they are excluded, then it would appear that this tax incentive seems to run counter to the desire to stimulate the wealth management industry. Next, will this new exemption for Singapore-sourced income for individuals see the end of the Supplementary Retirement Scheme (SRS)? At the moment, tax deductions are available for contributions to the SRS. When one retires, half of what is withdrawn on retirement is taxable. This means that even if the withdrawal may be largely made up of investment income, it would not be exempt from tax.”
“However, disappointed Singaporeans have been reassured by the Minister that the Government's target of top marginal personal tax rate of 20% remains. During last year's Budget debate, I had urged the Government to promote Singapore as a place for wealthy individuals to park their savings and assets. Not only will it help to increase the supply of money and to keep interest rates low, these individuals can also be role models for budding entrepreneurs to emulate and overtake in wealth creation. Thus, I welcome the Minister's decision to boost Singapore's private wealth management industry by deciding that all foreign-sourced income received in Singapore by resident individuals to be exempt from tax with effect from the year of assessment 2005. This initiative will entice high net worth individuals, who would otherwise park their money offshore for tax reasons, to bring it back. It has also a potential spin-off, as it is likely to attract these individuals from around the region to take up residence in Singapore. If they do so in significant numbers, other sectors of the economy will also benefit. Beyond the benefits, however, a few doubts on the Budget Statement on competitive tax regime need to be clarified. Let me elaborate. Firstly, in 2003, the Minister has already introduced the foreign-sourced exemption regimes which took effect from 1st June 2003. Dividends received by individuals will qualify for tax exemptions if certain conditions are met, such as whether the dividend has been subject to tax in the foreign country and is not less than 15%. What is not clear at this stage is whether individuals will have to satisfy those conditions before receiving tax exemption on their foreign-sourced dividends, or whether those requirements are now superseded.”
“Mr Speaker, Sir, my colleague before me has eloquently stated the beauty of having a family and elaborated a lot on the social side of the Budget. I would like to concentrate on a few tax issues. After recovering from a difficult year in which Singaporeans saw the unemployment rate soar to an all-time high of 5.5% in September before easing off to 4.5% in December, and with the country experiencing the dreaded SARS outbreak, it is not surprising that this year's Budget is one that sets the mood for Singaporeans to look forward and remake Singapore into a land of opportunities. The recommendations of the Economic Review Committee in 2002 are largely in place, and all that is left to do is a little tinkering here and there to make sure the country is kept on its course. On this note, I would like to congratulate the Minister for Finance for crafting a forward-looking Budget. I would like to direct my comments on specific issues relating to the competitive tax regime stated in this year's Budget. To begin, I am happy to note that the Government has done much for businesses, with the corporate tax rate moving 2% downwards to 20%, and entrepreneurs receiving help, such as the new tax initiatives that allow exemptions for three years for $100,000 of chargeable income of a new company. This effort will see more new businesses of all sorts starting up and which will, hopefully, generate more job opportunities for Singaporeans. For individuals, however, little was seen of any fiscal handouts by the Government and, to add to the surprise, the top tax rate for individual taxpayers remains, until further notice, at 22% instead of the widely expected rate of 20%.”
“Perhaps some Government-related companies can lead the way by casting their net wider and engaging the services of local public accountants, instead of just relying on the Big Four. Some have also raised concerns about the costs of compliance with new rules for smaller firms. While it is important that the Accountants Bill leaves little gaps in governing our financial reporting system, it is also important for our regulators to conduct an appropriate cost-benefit analysis in crafting those regulations. In conclusion, Mr Deputy Speaker, Sir, I would like to add that this Bill, while recognising the importance of keeping the investor community, the issuer community, the accounting profession and the interested public informed of developments by the Public Accountants Oversight Committee when it carries out its duties, must establish a general practice of conducting its rule making in a public forum and seek public comment on proposed rules. Such a robust rule change process will instill further confidence in building a thriving business environment where accounting standards can be tested and followed by others. I look forward to our building a stronger and forward-looking community of accountants through this Bill.”
“As more listed companies, both local and foreign, spread their operations outside Singapore shores and these business operations need to be consolidated with the accounts of the parent companies in Singapore, I would be grateful if the Minister will respond to this treatment of non-Singapore auditors. Public accounting firms often offer a range of tax services. With this Bill, many public accounting firms are concerned that some other services they offer may fall outside the definition of this Bill. If non-accounting firms are allowed to offer traditional services, such as corporate secretarial, book-keeping and tax services, and such companies need not comply with the regulated demands of this Bill, it may lower the standards of the accounting profession, which has to be kept high for continuing public confidence in Singapore companies. Just as the Government is trying to help our local small and medium-sized corporations grow in size to provide a strong base for enterprise in Singapore, and also to be strong enough to venture abroad, assistance must also be made to help our local public accounting firms grow in size in order to provide audit and other public accounting services to our growing SMEs. At the moment, most of our local businesses will switch to larger international public accounting firms before seeking listing on the Singapore Stock Exchange. It is perceived that this will provide credibility in the eyes of the authorities and hasten the approval process for a listing to take place. Such public accounting services can easily be provided by our local accountants if support can be given to level the playing field for these local public accounting firms to compete with larger international firms.”
“In such an increasing international scenario, regulation within Singapore, or for that matter any individual country, cannot reduce the risks attendant on the need for public accountants to rely upon auditors in other less regulated environments. In this aspect, the Accountants Act may expose the Singapore accountants to greater professional liabilities than accountants practising in other less regulated regimes. This may thus create a high risk environment which may stunt the growth of a healthy professional body of accountants. If this does happen, the high risks associated with being a public accountant versus not being one will see a lack of supply of accountants following economic growth in a country. This will not bode well for Singapore as it pursues to build local talents in accountancy to supplement the Big Four international accountancy firms that are the market leaders at the moment. Under the Sarbanes-Oxley Act of 2002, the Public Accounting Oversight Board is considering registering all foreign accounting firms that perform audit for US companies outside the US. This means that these foreign accountancy firms have to make sure that they meet the standards set by the US regulators before they can provide accountancy services to US-registered corporations. Perhaps, the Public Accountants Oversight Committee under the Accountants Bill in Singapore can also come up with a scheme to ensure that our listed corporations with subsidiaries in other countries are also audited by overseas public accounting firms with similar standards set.”
“One marked change of this Bill will be the new Public Accountants Oversight Committee, as stated under clause 4. It shall in addition have its functions and duties conducted by members who may not be accountants, thus removing any possible conflicts of interest and lack of independence in setting standards and enforcement. This will further enhance the accountants' integrity and trustworthiness in the performance of their duties. However, Part VI of this Bill also provides for errant accountants to be disciplined and for complaints to be reviewed by a Disciplinary Panel. While this provides comfort to the investing public, it will also act as a deterrent for those accountants who may be tempted to sway from the straight and narrow path. On this note, I hope that the Oversight Committee will have the wisdom to distinguish professional negligence of accountants as opposed to corporate management negligence when fingers start pointing as a consequence of corporate failures. Corporate failures, such as when a period of economic difficulty follows a bull market, when managements make unwise assumptions about the future prospects of the business, poor management of company finances which may lead to financial collapse and the temptation to hide or distort reports of poor financial performance, are natural consequences of the market system. Furthermore, in these fast moving times when businesses react to changes in the market with light speed as compared to the days before the introduction of the Internet, no degree of regulation will overcome the certainties that corporate failure is inevitable and public accountants will inevitably be blamed. Furthermore, what we are facing in Singapore is that our corporations are going global.”
“Mr Deputy Speaker, I rise in support of the Accountants Bill. This Bill seeks to further refine the Accountants Act (Chapter 2) and include in it more powers to control the practice and standards of the accounting profession. I support this move as it seeks to establish the image and standing of the accounting profession among other established countries. Although this Bill seeks to protect the investing public rather than setting the standards for excellence for accountants, it should positively spur the profession into setting its own standards for the investing public to rely on. Sir, the accountant's job has been misunderstood often, and it is important that it be put in the right perspective. The accountant's job is not merely to apply the facts against preset standards and make a judgement, but to exercise his personal judgement and expertise to determine whether the information provided is "true and fair". Indeed, the accounting profession in the United Kingdom survived for over a century on the personal ethics of its members. Accountants in UK, other established economies and in Singapore were held in high esteem by the public then, and I hope it still is. However, while much of this independent professionalism remains, times are changing. Political power has now influenced accounting standards, as have capital markets and international efforts for harmonisation. This has been brought about in a great part by the collapse of companies in UK, USA and Australia, owing to the lack of judgement from well-known accounting firms. Hence, the introduction of this Bill should in some way restore the public's confidence in the accounting profession which has been eroded by high profile failures of public companies.”
“At any rate, it would be good to understand the position of the authority and where it fits in with that of our judicial courts and the Attorney-General, and whether the Bill might take away, perhaps inadvertently, some of the inherent authority of these two legal bodies. If there are two separate regimes of enforcement, will offenders likely to be charged two times and receive two penalties? The last issue I would like to raise is related to the fact that under the new Bill, the authority is allowed to form companies and enter into stakeholdings with existing companies. Given the fact that the authority is supposed to administer and police the Companies Act and related Acts, I would like to ask what is the rationale behind allowing the authority to enter into such transactions. How will the authority police companies in which it has an interest? Natural justice dictates that no appearance of bias should be present and therefore to allow the authority to enter into such transactions and police such companies itself may seem to be a case of conflict of interest. Mr Deputy Speaker, Sir, save for the further clarifications and understanding I have sought from the Minister, I would support the efficiency that is brought about by the creation of ACRA.”
“The other point I would like to seek some clarification on is the fact that there is specific legislation in the proposed Bill that grants an officer or employee of the authority certain police powers. In addition, the Bill provides that when an offence under the proposed Bill is committed by a body corporate and is later proven to have been committed with the consent, connivance or neglect of a director, manager, secretary or similar officer of that body corporate, that officer of the company will be guilty of an offence. I would like to know whether this means that, firstly, the protection offered by the corporate veil has been lifted in respect of these offences committed under the law; and, secondly, whether the authority now has certain police powers and may bring proceedings against individuals as well as companies. And, if this is the case, to what extent are the officers of the authority allowed to exercise their authority, and exactly how does this fit in with the existing policing activities such as the Corrupt Practices Investigation Bureau? Does this mean that two separate police regimes will exist with regard to companies and their officers? And will offenders be liable to be charged under two separate bodies? I would further like to ask the Minister what it means for the authority to be able to conduct its own proceedings as stated in clause 33 of the Bill. Does this mean that the authority may hold its own court and convict an individual or company for offences committed under the Bill which the authority is meant to administer? And if the authority is allowed to conduct its own court proceedings, would this not be taking away some of the authority of our judicial courts and the Attorney-General?”