Singapore legislation
Section 140
Section 140
Redemption of book-entry MAS securities
(1)
Subject to section 141, book‑entry MAS securities are redeemable at par —
on such date as may be prescribed in regulations made under section 144 relating to the issue of such book‑entry MAS securities (referred to in this Part as the date of maturity); or
in the case of book‑entry MAS securities that are redeemable at the election of the holder thereof at any time, on the earlier of the following dates:
the date of maturity;
such date as may be specified as the redemption date in any notice of intention to redeem that is duly served in the manner prescribed by regulations made under section 144.
(2)
After the date of maturity of the book‑entry MAS securities under subsection (1), all the interest on the principal sums payable on the securities cease and determine, whether or not payment of the principal sums has been demanded.
(3)
Redemption proceeds of book‑entry MAS securities must be disposed of in accordance with the instructions from the depositor for whose account the securities have been maintained by the Authority.