SINGAPORE Law and Practice Contributed by: Lim Chong Kin and Corinne Chew, Drew & Napier LLC
out in Order 20 of the Rules of Court 2021. Only a party to the proceedings at which the Board reached its decision can make such appeals. The General Division of the High Court may deter - mine any such appeal by confirming, modifying or reversing the Board’s decision and making such further or other order on appeal. There is no further appeal right from the Court of Appeal. 8.2 Typical Timeline for Appeals Parties that wish to appeal to the Board must lodge a notice of appeal in the prescribed form within four weeks of the date on which they were notified of the contested decision or the date of publication of the decision, whichever is earlier. The Board may, at its discretion and on the appellant’s application, extend the time limit provided for lodging a notice of appeal. As soon as is practicable, the Board will: • set a timetable outlining the preparatory steps to be taken by the parties for the oral hearing of the appeal; • fix the hearing date; • notify the parties in writing of the timetable and the date and place of the hearing; and • send the parties a report summarising the factual context of the case and the parties’ principal submissions, if it is considered to be necessary for the expeditious disposal of the appeal. As of 9 May 2025, there has only been one appeal filed before the Board in respect of the Section 54 Prohibition in Singapore. The matter concerned Uber’s appeal against the Commis - sion’s decision issued on 24 September 2018,
which found that Grab and Uber had infringed the Section 54 Prohibition. Uber filed its notice of appeal on 20 October 2018 and the Board dismissed the appeal on 29 December 2020, upholding the Commission’s financial penalties and directions. In addition, the Board awarded costs of the appeal to the Commission. 8.3 Ability of Third Parties to Appeal Clearance Decisions Parties to an anticipated merger or a completed merger have a right to appeal against the Com - mission’s decision. Any other person to whom the Commission has given a direction under Sections 58A, 67 or 69 of the Competition Act may also appeal to the Board. As of 9 May 2025, there are no cases in which third parties have brought an appeal against a clearance decision by the Commission.
9. Foreign Direct Investment/ Subsidies Review
9.1 Legislation and Filing Requirements Singapore does not have general legislation pro - hibiting or requiring consent for foreign invest - ment, with the exception of the SIRA, which reg - ulates investments into entities deemed critical to national security interests; see 1.2 Legisla- tion Relating to Particular Sectors and 4.6 Non- Competition Issues . However, some sectors and industries – such as news media, banking, telecommunications and real estate – have spe - cific requirements on foreign ownership. These regulations are separate from the merger control rules under the Competition Act.
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