Saktiandi Supaat on Transport Sector (Critical Firms) Bill

In Parliament on Wednesday (May 8), MP Saktiandi Supaat asked the Transport Minister to explain why the proposed regime in the Transport Sector (Critical Firms) Bill is necessary and to elaborate on why the critical transport sector firms could not have been designated under the Significant Investments Review Act (SIRA). He also wanted to know if the sector-specific applications of the Bill are being practised in other jurisdictions globally, and if they are in line with international practices and coverage, expressing concern over "potential confusion" that businesses and investors may face with duplicative overlapping regimes. "When would a specific entity be designated under the general SIRA and when would an entity be designated under an equivalent sectoral regime?" Mr Saktiandi asked. He also wanted to know when the initial list of designated entities will be made known and if there are any guidelines on the criteria for designation. He also asked if there would be a scenario where foreign companies may be subject to conflicting regulatory requirements in their home jurisdiction and how such a conflict would be resolved under the Bill.