Singapore legislation

Clause 17

of Securities Industry (Amendment) Bill

Clause 17

Amendment of section 50

Section 50 of the principal Act is hereby amended —

(a)

by deleting paragraph (a) of subsection (1) thereof and substituting therefor the following: —“(a)a director, manager or secretary of a dealer and the dealer’s servants and agents shall produce any books, accounts, records and securities held by the dealer relating to his business; and”; and

(b)

by deleting the expression “dealer and, where the dealer carries on business in partnership, the other members of the partnership and where the dealer is a company, any director, manager or secretary of that company” appearing in the first, second, third and fourth lines of subsection (2) thereof and substituting therefor the expression “director, manager or secretary of a dealer”.

Clause 17 — Securities Industry (Amendment) Bill | laws.sg