Singapore legislation
Clause 110
Clause 110
Consequential amendments
(1)
The principal Act is amended —
by deleting the words “recognised trading system provider” wherever they appear in the following provisions and substituting in each case the words “recognised market operator”:Sections 2 (definitions of “business rules”, “futures option transaction”, “listing rules” and “member”), 86(3), 122(1), 125(4) and (9)(b)(iii), 126, 127(b), 130(2)(b), 150(1), 322(1)(a), 328(2) (definition of “relevant person”), 332(1), 334(2) (definition of “relevant person”) and 341(2)(f) and (n);
by deleting the words “recognised trading system providers” in section 338(2)(a) and substituting the words “recognised market operators”;
by deleting the words “clearing house” wherever they appear in the following provisions and substituting in each case the words “designated clearing house”:Sections 2 (definitions of “business rules” and “member”), 99(1)(g), 110(1)(c), 114, 142(4), 150(1), 186(14)(b), 322(1)(a) and (2)(g) and (h), 325(1)(a)(ii) and (d), 328(2) (definition of “relevant person”), 330(1) and section heading, 332(1) and 334(2) (definitions of “misconduct” and “relevant person”);
by deleting the words “exchange holding company” wherever they appear in the following provisions and substituting in each case the words “approved holding company”:Sections 2 (definition of “business rules”), 150(1), 322(1)(a), 328(2) (definition of “relevant person”), 332(1) and 334(2) (definition of “relevant person”);
by deleting the words “a person granted an exemption under section 5(3) or 6(3)” wherever they appear in the following provisions and substituting in each case the words “an exempt market operator”:Sections 150(1), 322(1)(a) and 334(2) (definition of “relevant person”);
by deleting the words “a person operating an exempt clearing facility,” in the following provisions:Sections 150(1) and 334(2) (definition of “relevant person”);
by deleting the words “an exempt clearing facility” in section 322(1)(a) and substituting the words “a clearing facility”;
by deleting the words “person granted an exemption under 5(3) or 6(3)” in section 328(2) (definition of “relevant person”) and substituting the words “exempt market”;
by deleting the words “person operating an exempt clearing facility,” in the definition of “relevant person” in section 328(2); and
by deleting the words “clearing house” in section 341(2)(f) and substituting the words “clearing facility”.
(2)
The Securities and Futures (Amendment) Act 2003 (Act 16 of 2003) is amended by deleting paragraph (g) of section 56.
(3)
Subject to subsection (4), the Minister may, by order made at any time during the period of 2 years after the commencement of this Act, repeal or amend any Act in force at the date of commencement of this Act which appears to him to be unnecessary in consequence of the enactment of this Act or to be inconsistent with any provision of this Act.
(4)
If the Minister responsible for an Act to be repealed or amended under subsection (1) is different, the Minister shall not repeal or amend the Act except after consulting the Minister responsible for that Act.
(5)
An order under subsection (3) shall be presented to Parliament as soon as possible after publication in the Gazette.