Singapore legislation
Clause 37
Clause 37
Overseas securities exchange and overseas futures exchange
(1)
An application for recognition under section 36 by an overseas securities exchange or overseas futures exchange must contain the address of a place in Singapore for the service on the applicant of notices or other documents required or authorised to be served on it under this Act.
(2)
Without prejudice to section 36, to recognise an overseas securities exchange or overseas futures exchange as a recognised trading system provider, the Authority may additionally require to be satisfied that —
the applicant is able and willing to co-operate with the Authority in the sharing of information and other ways;
adequate arrangements exist for co-operation between the Authority and those responsible for the supervision of the applicant in the country or territory in which the applicant’s head office is situated; and
adequate arrangements exist for co-operation between the applicant and a securities exchange or futures exchange in respect of the supervision of any person which is permitted to trade directly in the securities markets or futures markets established or operated by both the applicant and the securities exchange or futures exchange.
(3)
In considering whether it is satisfied that the overseas securities exchange or overseas futures exchange has met the requirements mentioned in subsection (2), the Authority may have regard to —
the relevant law and practice of the country or territory in which the applicant’s head office is situated; and
the rules and practices of the applicant.