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Powers of Minister in relation to transactions
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18. (1) Where the Minister—
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(a) makes a screening decision that a transaction affects, or would be likely to affect, the security or public order of the State, and
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(b) does not make a direction under subsection (3) in relation to the transaction,
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the parties shall not complete the transaction, or take any action for the purpose of completing or furthering the transaction.
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(2) Where the Minister—
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(a) makes a screening decision that a transaction affects, or would be likely to affect, the security or public order of the State, and
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(b) makes a direction under subsection (3) in relation to the transaction,
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the parties shall not complete the transaction, or take any action for the purpose of completing or furthering the transaction, other than in accordance with the direction.
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(3) The Minister may, having made a screening decision that a transaction affects, or would be likely to affect, the security or public order of the State—
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(a) where the transaction has not been completed, direct the parties to the transaction not to complete the transaction, or take any action for the purpose of completing or furthering the transaction, other than subject to such conditions as the Minister may specify for the purpose of protecting the security or public order of the State, or
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(b) where the transaction has been completed, direct the parties to the transaction to take such actions as the Minister may specify for the purpose of protecting the security or public order of the State.
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(4) Without prejudice to the generality of subsection (3), the conditions or actions that the Minister may specify under that subsection include requiring parties to the transaction, whether jointly or separately, to do or not to do, as the case may be, one or more of the following:
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(a) not to complete the transaction, or such parts of the transaction as the Minister may specify;
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(b) not to complete the transaction, or such parts of the transaction as the Minister may specify, before or after such date or dates as the Minister may specify;
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(c) to sell or divest itself of any matter, including business, assets (tangible or intangible), shares, real property or intellectual property;
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(d) to modify or constrain its conduct or practice in specified ways;
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(e) to cease a specified conduct or practice;
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(f) to prevent the flow of competitively sensitive information between undertakings or within divisions, units, departments or other organisational units within an undertaking;
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(g) to report to the Minister, on such terms as the Minister may specify, on the parties’ compliance with conditions imposed under this section;
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(h) to pay to the Minister, or such other person as the Minister may specify, such amounts as the Minister may specify in order to meet the reasonable costs associated with monitoring compliance with conditions imposed by the Minister under this section.
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(5) A person who fails to comply with subsection (1) or (2) shall be guilty of an offence.
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