Singapore legislation

Clause 77

of Securities and Futures Bill

Clause 77

Enforcement of judgments over property subject to market charge, etc.

(1)

Where property is subject to a market charge or has been provided as market collateral, no execution or other legal process for the enforcement of a judgment or order may be commenced or continued, and no distress may be levied, against the property by a person not seeking to enforce any interest in or security over the property, except with the consent of the clearing house concerned.

(2)

Where by virtue of this section a person would not be entitled to enforce a judgment or order against any property, any injunction or other remedy granted by any court with a view to facilitating the enforcement of any such judgment or order shall not extend to that property.