Singapore legislation

Section 81SU

of Securities and Futures Act 2001

Section 81SU

Power of Authority to make regulations

Amended by36/201436/2014

(1)

Without affecting section 341, the Authority may make regulations for the purposes of this Part, including regulations relating to —

(a)

rights and obligations of persons in relation to securities dealt with under the Central Depository System;

(b)

procedures for the deposit and custody of securities and the transfer of title to book‑entry securities and the regulation of persons concerned in that operation;

(c)

matters relating to security interest in book‑entry securities;

(d)

keeping of depositors’ accounts by the Depository and sub‑accounts by the depository agents;

(e)

keeping of the Depository Register and of records generally;

(f)

safeguards for depositors including the maintenance of insurance and the establishment and maintenance of compensation funds by the Depository for the purpose of settling claims by depositors;

(g)

matters relating to linkages between the Depository and other securities depositories (by whatever name called) established and maintained outside Singapore;

(h)

any requirement for fees charged by the Depository to be approved by the Authority;

(i)

the modification or exclusion of any provision of any written law, rule of law, any instrument or constitution;

(j)

the application, with such modifications as may be required, of the provisions of any written law, instrument or constitution; and

(k)

such supplementary, incidental, saving or transitional provisions as may be necessary or expedient.

Amended by36/2014

(2)

Regulations made under this section may provide —

(a)

that the Authority may require the Depository to provide it with such information or documents as the Authority considers necessary for such approval; and

(b)

that any contravention of any specified provision in the regulations shall be an offence punishable with a fine not exceeding $150,000 and, in the case of a continuing offence, with a further fine not exceeding 10% of the maximum fine prescribed for that offence for every day or part of a day during which the offence continues after conviction.

Amended by36/2014
Section 81SU — Securities and Futures Act 2001 | laws.sg