Chapter 12 of the agreement proscribes anti-competitive business conduct. The chapter broke new ground among U.S. FTAs for its obligations related to
government enterprises. A government enterprise was a "covered entity" for purposes of the FTA if the Government of Singapore owned any special voting shares, with the exception of enterprises operating only for investing Singapore Government reserves. Even if the Singapore Government did not own any shares in an enterprise, enterprises with revenue over an adjusted threshold could still be a covered entity if there was
"effective influence" from the Government. Effective influence exists where the government owns more than 50% of the voting rights, or can exercise substantial influence over the management. If the government owns less than 50% of the voting shares, but more than 20%, there is a presumption of effective influence that the Government of Singapore can rebut. Having broadly defined government enterprises, the chapter goes on to prescribe several obligations subject to the FTAs dispute settlement provisions. Singapore agreed to ensure that its government enterprises acted in accordance with commercial considerations and that they do not enter into anti-competitive dealings with competitors. Singapore also agreed to annually publish a report detailing its ownership and relationship with all covered entities, offer the names of any government officials serving as officers or directors, and the entity's annual revenue or total assets. Furthermore, Singapore is obligated to take no action or attempt at influencing decisions of its government enterprises, and at the same time continually reduce, with the goal of substantially eliminating, its ownership and other interests in enterprises. ==Views in favor of US-Singapore FTA==