Singapore legislation

Clause 3

of Securities Industry (Amendment) Bill

Clause 3

Amendment of section 7

Section 7 of the principal Act is hereby amended —

(a)

by inserting immediately after the word “Minister” appearing at the end of subsection (1) thereof the words “for approval”;

(b)

by deleting subsection (2) thereof;

(c)

by deleting subsection (3) thereof and substituting therefor the following: —“(3) The Minister may give notice to the stock exchange concerned that he approves the amendment or that he disapproves the whole or any specified part of the amendment in question and until such notice is given the amendment shall not have force and effect.”; and

(d)

by deleting the words “be notified of” appearing in the marginal note thereto and substituting therefor the word “approve”.