Singapore legislation
Section 39A
Section 39A
Control over Futures Exchange in acquisition of shares in corporation
Amended by9/959/95
(1)
No Futures Exchange shall, without the prior approval of the Authority, enter into an agreement to acquire the share capital of any corporation if the result of the acquisition is that the Exchange will acquire or hold, directly or indirectly, an interest of 20% or more of the share capital of that corporation.
(2)
The Authority may grant its approval under subsection (1) with or without conditions or may refuse to grant its approval.
Amended by9/95
(3)
A Futures Exchange that contravenes subsection (1) shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $50,000.
Amended by9/95