Singapore legislation

Clause 18

Issue of book-entry Government securities

(1)

The Authority may —

(a)

issue book-entry Government securities upon such terms as may be prescribed in the regulations by means of entries on its records which include the name of the depositor and the amount and description of the securities;

(b)

maintain accounts of book-entry Government securities —

(i)

for any depositor on such terms and conditions as may be specified by the Authority for such securities the depositor holds for its own account and, where the depositor is a depositary institution, for the account of its customers;

(ii)

for the Government; and

(iii)

for the Authority; and

(c)

otherwise service and maintain book-entry Government securities.

(2)

The Authority is authorised to take all action necessary in respect of book-entry Government securities to enable the Authority in its own capacity to perform its obligations as depositary with respect to such securities.

Read in full context — Government Securities Bill →