Singapore legislation

Section 9

of Trust Companies Act 2005

Section 9

Notification of change of particulars

(1)

Where —

(a)

a licensed trust company ceases to carry on any trust business;

(b)

any person has ceased to be a resident manager or a controller of a licensed trust company;

(c)

any civil or criminal proceedings have been instituted against a licensed trust company or any officer of the licensed trust company;

(d)

any change occurs in the name of a licensed trust company or the address of the principal place of business at which the licensed trust company carries on its trust business;

(e)

a licensed trust company has ceased to fulfil the minimum financial or other requirements prescribed by the Authority; or

(f)

any change occurs in relation to any other matters that may be prescribed,the licensed trust company must, not later than 14 days after the occurrence of the event, provide particulars of the event to the Authority in the prescribed form and manner.

(2)

Where a licensed trust company ceases to carry on any trust business, it must, within 14 days of the date of the cessation of its trust business, surrender to the Authority the trust business licence that has been granted to it.

(3)

Any licensed trust company which contravenes subsection (1) or (2) shall be guilty of an offence.

Read in full context — Trust Companies Act 2005 →