20.
Sector: Trade Services
Sub-Sector: Distribution and Sale of Hazardous Substances
Industry Classification: -
Obligations Concerned: Local Presence
Level of Government: Central
Measures: Environmental Protection and Management Act, Cap. 94A, 2002 Rev Ed, Section 22
Description: Cross-Border Trade in Services
Only service suppliers with a local presence shall be allowed to distribute and sell hazardous substances as defined in the Environmental Protection and Management Act. Singapore reserves the right and flexibility to modify or increase the list of hazardous substances as defined or listed in the Environmental Protection and Management Act.
21.
Sector: Trade Services
Sub-Sector: Distribution services Retailing services Wholesale trade services
Industry Classification:
Obligations Concerned: Local Presence
Level of Government: Central
Measures: Medicines Act, Cap. 176, 1985 Rev Ed Health Products Act, Cap. 122D, 2008 Rev Ed
Description: Cross-Border Trade in Services
Only service suppliers with a local presence shall be allowed to supply wholesale, retail and distribution services for medical and health-related products and materials as defined under the Medicines Act and Health Products Act, intended for purposes such as treating, alleviating, preventing or diagnosing any medical condition, disease or injury, as well as any other such items that may have an impact on the health and well-being of the human body.
Such products and materials include but are not limited to drugs and pharmaceuticals, traditional medicines, health supplements, diagnostic test kits, medical devices, cosmetics, tobacco products, radioactive materials and irradiating apparatuses.
Singapore reserves the right and flexibility to modify or increase the list of medical and health-related products and materials as defined ot listed in the Medicines Act and Health Products Act.
22.
Sector: Transport Services
Sub-Sector: Air Transport Services - Ground Handling Services (including but not limited to cargo handling services)
Industry Classification:
Obligations Concerned: National Treatment (Cross-Border Trade in Services and Investment) Market Access
Level of Government: Central
Measures: Civil Aviation Authority of Singapore Act, Cap. 41, 1985 Rev Ed
Description: Investment and Cross-Border Trade in Services
Only Singapore Airport Terminal Services (SATS) and Changi International Airport Services (CIAS) and/or their respective successor bodies shall be allowed to provide ground handling services, including but not limited to cargo handling services at airports.
23.
Sector: Transport Services
Sub-Sector: Air transport services Passengers transportation by air Freight transportation by air
Industry Classification: CPC 731 Passenger Transportation by Air CPC 732 Freight Transportation by Air
Obligations Concerned: National Treatment (Investment) Most-Favoured-Nation Treatment (Investment) Senior Management and Boards of Directors
Level of Government: Central
Measures: Air Navigation (Licensing of Air Services) Regulations, Cap. 6, Regulation 2
Description: Investment
Service suppliers providing air transport services (for both passenger and freight) as a Singapore designated airline shall have to comply with the "effective control' and/or "substantial ownership" requirements of Singapore's bilateral and multilateral air services agreements.
Compliance with the requirements of these agreements may require these service suppliers to comply with conditions on effective control and limits on the foreign ownership as stipulated in Singapore's bilateral and multilateral air services agreements.
24.
Sector: Transport Services
Sub-Sector: Maritime transport services Cargo handling services Pilotage Services Supply of desalinated water to ships berthed at Singapore ports or in Singapore territorial waters
Industry Classification: CPC 741 Cargo Handling Services CPC 74520 Pilotage and Berthing Services (only applies to Pilotage Services) CPC 74590 Other Supporting Services for Water Transport
Obligations Concerned: National Treatment (Cross-Border Trade in Services and Investment) Market Access
Level of Government: Central
Measures: Maritime and Port Authority of Singapore Act, Cap. 170A, 1997 Rev Ed, Section 81
Description: Investment and Cross-Border Trade in Services
Only PSA Corporation Ltd and Jurong Port Pte Ltd or their respective successor bodies shall be allowed to provide cargo handling services.
Only PSA Marine Pte Ltd or its successor body shall be allowed to provide pilotage services and supply desalinated water to ships berthed at Singapore ports or in Singapore territorial waters.
25.
Sector: Transport Services
Sub-Sector: Maritime transport services
Industry Classification:
Obligations Concerned: National Treatment (Cross-Border Trade in Services and Investment) Market Access
Level of Government: Central
Measures: Maritime and Port Authority of Singapore Act, Cap. 170A, 1997 Rev Ed, Section 81
Description: Investment and Cross-Border Trade in Services
Only local service suppliers shall be allowed to operate and manage cruise and ferry terminals.
Local service suppliers are either Singapore citizens or legal persons which are more than 50 per cent owned by Singapore citizens.
26.
Sector: Transportation and Distribution of Manufactured Gas and Natural Gas
Sub-Sector:
Industry Classification:
Obligations Concerned: National Treatment (Cross-Border Trade in Services and Investment) Market Access
Level of Government: Central
Measures: Gas Act, Cap. 116A, 2002 Rev Ed
Description: Investment and Cross-Border Trade in Services
Only the holder of a gas transporter licence shall be allowed to transport and distribute manufactured and natural gas.
Only one gas transport licence has been issued given the size of the Singapore market.
27.
Sector: Manufacturing and Services Incidental to Manufacturing
Sub-Sector:
Industry Classification:
Obligations Concerned: National Treatment (Cross-Border Trade in Services and Investment) Most-Favoured-Nation Treatment (Cross-Border Trade in Services and Investment) Prohibition of Performance Requirements
Level of Government: Central
Measures: Control of Manufacture Act, Cap. 57, 2004 Rev Ed
Description: Investment and Cross-Border Trade in Services
The manufacture of the following products, and services incidental to the manufacture of these products, in Singapore, may be subject to certain restrictions:
(a) beer and stout;
(b) cigars;
(c) drawn steel products;
(d) chewing gum, bubble gum, dental chewing gum or any like substance (not being a medicinal product within the meaning of the Medicines Act, Cap. 176, or a substance in respect of which an order under section 54 of the Act has been made);
(e) cigarettes; and
(f) matches.
28.
Sector: All
Sub-Sector:
Industry Classification:
Obligations Concerned: National Treatment (Cross-Border Trade in Services and Investment)
Level of Government: Central
Measures: Banking Act, Cap. 19, MAS Notice 757 Monetary Authority of Singapore Act, Cap. 186, MAS Notice 1105 Finance Companies Act, Cap. 108, MAS Notice 816 Insurance Act, Cap. 142, MAS Notice 109 Securities and Futures Act, Cap. 289, MAS Notice SFA 04-N04
Description: Investment and Cross-Border Trade in Services
A non-resident financial institution may in certain circumstances be unable to borrow in Singapore dollars more than $$5 million from a resident financial institution owing to the following restrictions placed on financial institutions' lending of the Singapore dollar to non-resident financial institutions.
A financial institution shall not extend to any non-resident financial institution Singapore dollar credit facilities exceeding S$5 million per non-resident financial institution:
(a) where the Singapore dollar proceeds are to be used outside of Singapore, unless:
(i) such proceeds are swapped or converted into foreign currency upon draw-down or before remittance abroad; or
(ii) such proceeds are for the purpose of preventing settlement failures where the financial institution extends a temporary Singapore dollar overdraft to any vostro account of any non- resident financial institution, and the financial institution takes reasonable efforts to ensure that the overdraft is covered within two business days; and
(b) where there is reason to believe that the Singapore dollar proceeds may be used for Singapore dollar currency speculation, regardless of whether the Singapore dollar proceeds are to be used in Singapore or outside of Singapore.
A financial institution shall not arrange Singapore dollar equity or bond issues for any non-resident financial institution where the Singapore dollar proceeds are to be used outside Singapore, unless the proceeds are swapped or converted into foreign currency upon draw-down or before remittance abroad.
"Non-residents financial institution" means any financial institution which is not a resident as defined in the relevant notice.
29.
Sector: Business Services
Sub-Sector: Credit bureau services
Industry Classification:
Obligations Concerned: Market Access Local Presence
Level of Government: Central
Measures: Administrative measure pursuant to the Monetary Authority of Singapore Act, Cap. 186
Description: Cross-Border Trade in Services
Singapore reserves the right to limit the number of suppliers of credit bureau services where information provided by the supplier of credit bureau services is obtained from financial institutions in Singapore. The supplier must be established in Singapore.
30.
Sector: Business Services
Sub-Sector: Legal Services
Industry Classification:
Obligations Concerned: National Treatment (Cross-Border Trade in Services and Investment) Most-Favoured-Nation Treatment (Cross-Border Trade in Services and Investment) Market Access Local Presence
Level of Government: Central
Measures: Legal Profession Act, Cap. 161
Description: Investment and Cross Border Trade in Services
Australian law practices shall apply for licensing as foreign law practices (as defined under Singapore law) for their practice of Australian law, international law and/or third country law with offices in Singapore, and upon obtaining such licence, they can employ:
(i) qualified foreign lawyers (as defined under Singapore law) of any nationality to practise Australian law, international law and/or third country law;
(ii) Singapore lawyers (as defined under Singapore law) to ptactise only Australian law, international law and/or third country law but not Singapore law; and
(iii) non-legally trained local staff in their Singapore offices.
Australian lawyers shall apply for registration as foreign lawyers for their practice of Australian law, international law and/or third country law with physical presence in Singapore in order to work in foreign law practices (either from Australia or any other jurisdiction) in Singapore.
Australian lawyers who are registered as foreign lawyers for the practice of Australian law, international law and/or third country law with local presence in Singapore and are working in foreign law practices (either from Australia or any other jurisdiction) in Singapore shall be allowed to participate in international commercial arbitration proceedings in Singapore by:
(i) representing any party in arbitration proceedings; and
(ii) engaging in the giving of advice, preparation of documents or any other assistance in relation to or arising out of arbitration proceedings except for the right of audience in Singapore court proceedings.
Australian law practices may provide legal services in relation to Singapore law through a Joint Law Venture or Formal Law Alliance with a Singapore law practice, only to the extent allowed by the laws, tules, and regulations concerning Joint Law Ventures and Formal Law Alliances, and subject to the conditions and requirements relating to Joint Law Ventures and Formal Law Alliances. However, Singapore undertakes to waive and modify the following statutory conditions governing Joint Law Ventures and Formal Law Alliances for any Australian law practice which is licensed as a foreign law practice in Singapore:
In relation to Rule 51(2)(b) and Rule 54(1)(b) of the Legal Profession (Law Practice Entities) Rules 2015:
(i) the minimum number of Australian lawyers resident in Singapore which the Australian law practice is required to maintain in a Joint Law Venture or a Formal Law Alliance shall be reduced from 5 to 3;
(ii) the minimum relevant legal expertise and experience in the permitted areas of legal practice required of the 3 Australian lawyers referred to in subparagraph (i) shall be considered on an aggregate basis of 15 years for all 3 Australian lawyers, rather than on the basis of 5 years for each Australian lawyer; and
In relation to Rule 5(1)(g) of the Legal Profession (Regulated Individuals) Rules 2015:
(iii) the minimum relevant legal expertise and experience in the permitted areas of legal practice required for Australian lawyers working in a Joint Law Venture who wish to apply to practise Singapore law under the Legal Profession Act shall be maintained at 3 years.
ANNEX 4-II. Reservations to chapter 7 (cross-border trade in services) and chapter 8 (investment)
EXPLANATORY NOTES
1. The Schedule of a Party to this Annex sets out, pursuant to Article 7 (Reservations) of Chapter 7 (Cross-Border Trade in Services) and Article 11 (Reservations) of Chapter 8 (Investment), the specific sectors, subsectors or activities for which that Party may maintain existing, or adopt new or more restrictive, measures that do not conform with obligations imposed by:
(a) Article 3 (Market Access) of Chapter 7 (Cross-Border Trade in Services);
(b) Article 4 (National Treatment) of Chapter 7 (Cross-Border Trade in Services) or Article 4(National Treatment) of Chapter 8 (Investment);
(c) Article 5 (Most-Favoured-Nation Treatment) of Chapter 7 (Cross- Border Trade in Services) or Article 5 (Most-Favoured-Nation Treatment) of Chapter 8 (Investment);
(d) Article 6 (Local Presence) of Chapter 7 (Cross-Border Trade in Services);
(e) Article 7 (Prohibition of Performance Requirements) of Chapter 8 (Investment); or
(F) Article 8 (Senior Management and Boards of Directors) of Chapter 8 (investment).
2. Each Schedule entry sets out the following elements:
(a) Sector refers to the sector in which the entry is taken;
(b) Sub-Sector, where referenced, refers to the specific subsector for which the entry is made;
(c) Industry Classification, where referenced, refers to the activity covered by the non-conforming measure, according to the provisional CPC codes as used in the Provisional Central Product Classification (Statistical Papers Series M No. 77, Department of International Economic and Social Affairs, Statistical Office of the United Nations, New York, 1991);
(d) Obligations concerned specifies the obligations referred to in paragraph 1 that, pursuant to Article 7.2 (Reservations) of Chapter 7 (Cross-Border Trade in Services) and Article 11.2 (Reservations) of Chapter 8 (Investment), do not apply to the sectors, subsectors or activities listed in the entry;
(e) Description sets out the scope or nature of the sectors, sub-sectors or activities covered by the entry to which the reservation applies; and
(f) Existing Measures, where specified, identifies, for transparency purposes, a non-exhaustive list of existing measures that apply to the sectors, subsectors or activities covered by the entry.
3. In accordance with Article 7.2 (Reservations) of Chapter 7 (Cross-Border Trade in Services) and Article 11.2 (Reservations) of Chapter 8 (Investment), the articles of this Agreement specified in the Obligations concerned element of an entry do not apply to the sectors, subsectors and activities identified in the Description element of that entry.
4. Article 1 (Definitions) of Chapter 7 (Cross-Border Trade in Services) and Article 1 (Definitions) of Chapter 8 (Investment) shall apply to this Annex.