Singapore legislation

Clause 5

of Securities Industry Bill

Clause 5

Minister to be notified of amendments to rules

(1)

Where an amendment is made, whether by way of recission, alteration or addition, to the rules of a stock exchange the committee of the stock exchange shall forward a written notice thereof to the Minister.

(2)

If the notice in accordance with the provisions of subsection (1) of this section is not given within twenty-one days after an amendment that amendment shall cease to have force and effect.

(3)

The Minister may within twenty-one days after receipt of notice under subsection (1) of this section give notice to the stock exchange concerned that he disallows the whole or any specified part of the amendment in question and thereupon such whole or specified part (as the case may be) shall cease to have force and effect.

(4)

Any notice under this section may be served personally or by post.