Clause 2

Section 7 of the Civil Law Act is amended by deleting subsections (3) and (4) thereof and substituting therefor the following: —“(3) Subsections (1) and (2) shall not be deemed to apply to any subscription or contribution, or agreement to subscribe or contribute, for or toward any plate, prize or sum of money to be awarded to the winner or winners of any lawful game, sport, pastime or exercise.(4) For the avoidance of doubt, where any contract for the future delivery of any commodity is entered into in any exchange or market in Singapore, the fact that the contract is entered into by one or both parties with no intention of actual delivery of the commodity but with the intention of realising a profit arising out of differences in the price of the commodity shall not affect the validity or enforceability of the contract.”.