Singapore legislation

Section 13

of Exchange Control Act 1953

Section 13

Substitution of securities and certificates outside Singapore

Except with the permission of the Authority —

(a)

no person in Singapore shall do any act with intent to secure —

(i)

that a security which is —

(A)

registered in Singapore; or

(B)

transferable by means of a bearer certificate in Singapore,becomes, or is replaced by, a security registered outside Singapore or a security transferable by means of a bearer certificate outside Singapore; or

(ii)

that a certificate of title to any other security, is issued outside Singapore in substitution for or in addition to a certificate of title thereto which is in, or is or has been lost or destroyed in, Singapore; and

(b)

no person resident in the scheduled territories shall in Singapore do any act which involves, is in association with or is preparatory to any such transaction outside Singapore as is referred to in paragraph (a)(i) or (ii).

Read in full context — Exchange Control Act 1953 →