27 February 2018
On 5 February 2018, the Enterprise Singapore Board Bill (“Bill”) was passed in Parliament. Introduced in Parliament on 8 January 2018, the Bill will formally restructure the Competition Commission of Singapore (“CCS”) to include and enforce the consumer protection function which is currently under the Standards, Productivity and Innovation Board (“SPRING”). CCS will then 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 which will carry out all of the other existing functions of the International Enterprise Singapore Board and SPRING.
There will also be consequential amendments to the Competition Act and the Consumer Protection (Fair Trading) Act.
Although passed, the Bill is not yet in force. 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.