Singapore legislation
Section 16M
Section 16M
Change of medium from transferable document or instrument to electronic transferable record
(1)
An electronic transferable record may replace a transferable document or instrument if a reliable method for the change of medium in accordance with this section is used.
(2)
For the change of medium mentioned in subsection (1) to take effect, the following requirements must be satisfied:
all the information contained in the transferable document or instrument must be accurately reproduced in the electronic transferable record that replaces the transferable document or instrument; (b)a statement indicating a change of medium must be inserted in the electronic transferable record that replaces the transferable document or instrument.
(3)
Upon the issuance of the electronic transferable record in accordance with subsections (1) and (2), the transferable document or instrument —
ceases to have any effect or validity; and
must be made inoperative.
(4)
A change of medium in accordance with subsections (1) and (2) does not affect the rights and obligations of the parties.