Singapore legislation
Clause 36
Clause 36
Amendment of section 214
Section 214 of the principal Act is amended —
by inserting, immediately before the definition of “information”, the following definitions:“ “debenture” has the same meaning as in section 2 and, in relation to a business trust, means a debenture issued by the trustee of the business trust in its capacity as trustee of the business trust;“financial performance”, in relation to a business trust, means the performance of the business relating to the trust property of the business trust which is managed and operated by the trustee of the business trust;”;
by deleting paragraphs (c) and (d) of the definition of “information” and substituting the following paragraphs:“(c)matters relating to negotiations or proposals with respect to —
commercial dealings;
dealing in securities; or
trading in futures contract;
information relating to the financial performance of a corporation or business trust, or otherwise;”;
by deleting the definition of “securities” and substituting the following definition:“ “securities” means —
in relation to a corporation, for the purposes of sections 213(a)(i) and (b)(i) and 218 —
debentures, stocks or shares issued or proposed to be issued by a corporation;
any right, option or derivative in respect of any such debentures, stocks or shares;
any right under a contract for differences or under any other contract the purpose or pretended purpose of which is to secure a profit or avoid a loss by reference to fluctuations in —
the value or price of any such debentures, stocks or shares;
the value or price of any group of any such debentures, stocks or shares; or
an index of any such debentures, stocks or shares; or
a futures contract only if the commodity which is the subject of the futures contract is a share or stock of a corporation;
in relation to a business trust, for the purposes of sections 213(a)(ia) and (b)(ia) and 218(1A) and (4A) —
units in a business trust;
derivatives of units in a business trust;
debentures of a business trust; or
any right, option or derivative in respect of any such debentures; and
in any other case —
debentures or stocks issued or proposed to be issued by a government;
debentures, stocks or shares issued or proposed to be issued by a corporation or body unincorporate;
any right, option or derivative in respect of any such debentures, stocks or shares;
any unit in a collective investment scheme;
any unit, or derivative of a unit, in a business trust;
any right under a contract for differences or under any other contract the purpose or pretended purpose of which is to secure a profit or avoid a loss by reference to fluctuations in —
the value or price of any such debentures, stocks, shares, units in a collective investment scheme or units in a business trust;
the value or price of any group of any such debentures, stocks, shares, units in a collective investment scheme or units in a business trust; or
an index of any such debentures, stocks, shares, units in a collective investment scheme or units in a business trust; or
a futures contract only if the commodity which is the subject of the futures contract is a share or share index, or stock or stock index,but does not include —
(AA)bills of exchange;
(BB)promissory notes; or
certificates of deposit issued by a bank or finance company;”; and
by deleting the full-stop at the end of the definition of “sell” and substituting a semi-colon, and by inserting immediately thereafter the following definition:“ “trust property” has the same meaning as in section 2 of the Business Trusts Act (Act 30 of 2004).”.