Singapore legislation

Section 129B

of Securities and Futures Act 2001

Section 129B

Interpretation of this Part

Amended by34/201210/20134/20171/2020

In this Part, unless the context otherwise requires —“clearing” means any arrangement, process, mechanism or service provided by a person in respect of transactions, by which parties to those transactions substitute, through novation or otherwise, the credit of such person for the credit of the parties;“specified derivatives contract” means any derivatives contract that is, or that belongs to a class of derivatives contracts that is, prescribed by the Authority by regulations made under section 129G for the purposes of this definition;“specified person” means —

(a)

any bank that is licensed under the Banking Act 1970;

(b)

any merchant bank licensed under the Banking Act 1970;

(c)

any finance company licensed under the Finance Companies Act 1967;

(d)

any insurer licensed under the Insurance Act 1966;

(e)

[Deleted by Act 4 of 2017](f)any holder of a capital markets services licence; or

(g)

any other person who is, or who belongs to a class of persons which is, prescribed by the Authority by regulations made under section 129G for the purposes of this definition.

Definition

“clearing” means any arrangement, process, mechanism or service provided by a person in respect of transactions, by which parties to those transactions substitute, through novation or otherwise, the credit of such person for the credit of the parties;

Definition

“specified derivatives contract” means any derivatives contract that is, or that belongs to a class of derivatives contracts that is, prescribed by the Authority by regulations made under section 129G for the purposes of this definition;

Definition

“specified person” means —

(a)

any bank that is licensed under the Banking Act 1970;

(b)

any merchant bank licensed under the Banking Act 1970;

(c)

any finance company licensed under the Finance Companies Act 1967;

(d)

any insurer licensed under the Insurance Act 1966;

(e)

[Deleted by Act 4 of 2017](f)any holder of a capital markets services licence; or

(g)

any other person who is, or who belongs to a class of persons which is, prescribed by the Authority by regulations made under section 129G for the purposes of this definition.

Amended by34/201210/20134/20171/2020

Read in full context — Securities and Futures Act 2001 →