RUBBER INDUSTRY BILL

Order for Second Reading read.

The Minister for Trade and Industry (BG Lee Hsien Loong): Mr Speaker, Sir, I beg to move, "That the Bill be now read a Second time."

The Rubber Industry Bill 1992 is a merger of two Acts, namely, the Rubber Industry Act 1973 and the Rubber Dealers Act 1921, both of which are administered by the RAS. It seeks to repeal the two old Acts and to re-enact with amendments the Rubber Industry Act for the promotion, regulation and control of the natural rubber trade and industry.

This Bill consolidates all regulations related to the physical trade in rubber, including the manufacture of technically specified rubber, the packing and shipping of rubber for export, and dealing in rubber. It makes no substantive changes to what is currently provided for in the existing Rubber Industry and Rubber Dealers Acts, except for transferring the regulatory functions presently vested in the Rubber Association of Singapore to the TDB.

I will now elaborate on the main provisions of the Bill. Clause 2 defines "deal" to cover buying, selling and brokering of physical rubber except futures trading which will be regulated under the Commodity Futures Bill, 1992. Persons who trade in rubber for physical delivery at a future date are also regulated by this Bill.

Clause 3, subclauses (4) and (5) are retained to maintain the historical reciprocal arrangements with Malaysia whereby a licence to ship rubber for export issued by the competent authority in Malaysia is deemed to be a valid licence for use in Singapore and vice versa.

Clause 12 provides for licensees whose licences have been suspended or revoked, or who have been disciplined by the TDB, to appeal to an Appeal Tribunal. The Tribunal's terms of office, qualification for appointment and powers, are spelt out in Clause 13.

Clause 14 spells out the functions of the TDB in promoting and developing the rubber trade. The functions were adopted from the Rubber Association of Singapore (Incorporation) Act.

To expedite administration and regulation of licensees, TDB is empowered under clause 27 to make by-laws to regulate the conduct of the rubber trade and industry. Clause 28 empowers the TDB to exempt any person from the provisions of the Bill subject to the Minister's approval.

Sir, I beg to move.

Question put, and agreed to.

Bill accordingly read a Second time and committed to a Committee of the whole House.

The House immediately resolved itself into a Committee on the Bill. - [BG Lee Hsien Loong].

Bill considered in Committee; reported without amendment; read a Third time and passed.