Singapore legislation

Clause 23

of Securities and Futures (Amendment No. 2) Bill

Clause 23

Amendment of section 122

Section 122 of the principal Act is amended by deleting subsection (2) and substituting the following subsection:“(2) Subsection (1) shall not apply to the holder of a capital markets services licence or a representative of such a holder —

(a)

if his customer required the purchase or sale of securities or futures contracts on behalf of the customer to be effected only on specified conditions and he has been unable to purchase or sell the securities or futures contracts by reason of those conditions; or

(b)

when carrying out the act referred to in subsection (1) under such other circumstances as may be prescribed by the Authority.”.

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