Singapore legislation

Section 21

of Exchange Control Act 1953

Section 21

Application of this Part to secondary securities

(1)

This Part shall apply, with such modifications, if any, as may be prescribed, in relation to any such document as is mentioned in subsection (2), as if the document created, and were the certificate of title to, a security (referred to in this Act as a secondary security).

(2)

The documents referred to in subsection (1) are —

(a)

any letter of allotment which may be renounced;

(b)

any letter of rights;

(c)

any warrant conferring an option to acquire a security;

(d)

any deposit certificate in respect of securities (but not including a receipt by an authorised depositary for any certificate of title deposited in pursuance of this Part); and

(e)

such other documents conferring, or containing evidence of, rights as may be prescribed.

Read in full context — Exchange Control Act 1953 →