Singapore legislation
Section 137ZJ
Section 137ZJ
Disclosure of short sell orders
(1)
Subject to subsection (2), a person (A) who makes a short sell order on any approved exchange must, before or at the time of the short sell order, disclose to the approved exchange —
that A intends to make or is making a short sell order; and
the quantity, volume or value of the specified capital markets products in relation to which A intends to make or is making an order to sell but in which A does not have an interest.
(2)
Where another person (B) places the short sell order mentioned in subsection (1) on A’s behalf, A need not comply with subsection (1) if, before or at the time of the short sell order, A discloses to B —
that A intends to make or is making a short sell order; and
the quantity, volume or value of the specified capital markets products in relation to which A intends to make or is making an order to sell but in which A does not have an interest.
(3)
Where A has made the disclosure mentioned in subsection (2) to B, B must, before or at the time of the short sell order, disclose to the approved exchange —
that A intends to make or is making a short sell order; and
the quantity, volume or value of the specified capital markets products in relation to which A intends to make or is making an order to sell but in which A does not have an interest.
(4)
Any person who contravenes subsection (1) or (3) shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $25,000.