31 January 2018
On 8 January 2018, the Enterprise Singapore Board Bill (“Bill”) was introduced in Parliament. One key proposal under the Bill is to formally restructure the Competition Commission of Singapore (“CCS”) to include the consumer protection function which is currently under the Standards, Productivity and Innovation Board (“SPRING”).
CCS will be renamed the Competition and Consumer Commission of Singapore (“Commission”).
Under the Bill, the functions relating to fair trading and the administration of the Consumer Protection (Fair Trading) Act will be transferred to the Commission. The Bill also seeks to establish the Enterprise Singapore Board (“Board”) which will carry out all of the other existing functions of the International Enterprise Singapore Board (“IE”) and SPRING.
There will also be consequential amendments to the Competition Act and the Consumer Protection (Fair Trading) Act.
When these developments were first announced in September 2017 by the Ministry of Trade and Industry, it was indicated that the changes will be implemented in the second quarter of 2018.