Singapore legislation

Clause 13

of Securities and Futures (Amendment No. 2) Bill

Clause 13

Amendment of section 95

Section 95(2) of the principal Act is amended —

(a)

by deleting the word “or” at the end of paragraph (a)(iii);

(b)

by deleting the word “and” at the end of paragraph (a)(iv);

(c)

by inserting, immediately after sub-paragraph (iv) of paragraph (a), the following sub-paragraphs:“(v)the Authority has reason to believe that the holder of the capital markets services licence is carrying on business in any regulated activity for which it was licensed in a manner that is contrary to the interests of the public; or (vi)any information or document that is furnished by the holder of the capital markets services licence to the Authority is false or misleading; and”;

(d)

by deleting the words “in carrying on business in” in paragraph (b)(ii) and substituting the words “in respect of”;

(e)

by deleting the word “or” at the end of paragraph (b)(iv);

(f)

by inserting, immediately after sub-paragraph (iv) of paragraph (b), the following sub-paragraph:“(iva)the Authority has reason to believe that the representative is performing his functions in a manner that is contrary to the interests of the public;”; and

(g)

by deleting the full-stop at the end of sub-paragraph (v) of paragraph (b) and substituting the word “; or”, and by inserting immediately thereafter the following sub-paragraph:“(vi)any information or document that is furnished by the representative to the Authority is false or misleading.”.

Read in full context — Securities and Futures (Amendment No. 2) Bill →