Singapore legislation
Clause 28
Clause 28
Amendment of section 63
Section 63 of the principal Act is amended —
(a)
by deleting paragraphs (a) and (b) of subsection (1) and substituting the following paragraphs:“(a)for ensuring the fair, orderly and expeditious clearing and settlement of transactions;
(b)
for ensuring the integrity and stability of the financial system; or”; and
(b)
by deleting paragraph (a) of subsection (2) and substituting the following paragraph:“(a)the clearing or settlement of any transaction or class of transactions by a clearing house and the making of adjustments of contractual obligations arising out of that transaction or class of transactions;”.