Singapore legislation
Clause 7
Clause 7
Amendment of section 6
Section 6(1) of the principal Act is amended by deleting paragraphs (c) and (d) and substituting the following paragraphs:“(c)in the case of a Commodity Futures Exchange, with respect to the terms and conditions under which commodity futures contracts may be made in the Commodity Futures Exchange, or with respect to the classes of commodity futures contracts that may be made by members;
(ca)in the case of a commodity market, with respect to the terms and conditions under which commodity contracts may be made;
with respect to the clearing and other arrangements made and the financial conditions of the commodity market or the Commodity Futures Exchange, its clearing house and its members are such as to provide reasonable assurance that all obligations arising out of any contracts entered into on that commodity market or Commodity Futures Exchange will be met;”.