Singapore legislation

Clause 74

of Securities and Futures Bill

Clause 74

Adjustment of prior transactions

(1)

No order shall be made by a court under —

(a)

section 98 or 99 of the Bankruptcy Act (Cap. 20);

(b)

section 227T, 329 or 331 of the Companies Act (Cap. 50); or

(c)

section 73B of the Conveyancing and Law of Property Act (Cap. 61),in relation to any matter to which this section applies.

(2)

The matters to which this section applies are specified as follows:

(a)

a market contract;

(b)

a disposition of property pursuant to a market contract;

(c)

the provision of market collateral;

(d)

a contract effected by a clearing house for the purpose of realising property provided as market collateral;

(e)

a disposition of property in accordance with the business rules of a clearing house as to the application of property provided as market collateral;

(f)

a disposition of property as a result of which the property becomes subject to a market charge, or any transaction pursuant to which that disposition is made;

(g)

a disposition of property for the purpose of enforcing a market charge;

(h)

a market charge; and

(i)

any default proceedings.

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