Singapore legislation

Section 74

of Securities and Futures Act 2001

Section 74

Immunity from criminal or civil liability

Amended by34/201234/2012

(1)

No criminal or civil liability shall be incurred by an approved clearing house, or by any person specified in subsection (2), for any thing done (including any statement made) or omitted to be done with reasonable care and in good faith in the course of, or in connection with, the discharge or purported discharge of the obligations of the approved clearing house under this Act or under the business rules of the approved clearing house (including the default rules of the approved clearing house).

Amended by34/2012

(2)

For the purposes of subsection (1), the specified person is any person acting on behalf of the approved clearing house, including —

(a)

any director of the approved clearing house; or

(b)

any member of any committee established by the approved clearing house.

Amended by34/2012