Singapore legislation
Clause 13
Clause 13
Repeal and re-enactment of section 81ZI
Section 81ZI of the principal Act is repealed and the following section substituted therefor:“Power of Authority to exempt approved holding company from provisions of this Part81ZI.—
Without prejudice to section 337(1), the Authority may, by regulations made under section 81ZK, exempt any approved holding company or class of approved holding companies from any provision of this Part, subject to such conditions or restrictions as the Authority may prescribe in those regulations.(2) Without prejudice to section 337(3) and (4), the Authority may, by notice in writing, exempt any approved holding company from any provision of this Part, subject to such conditions or restrictions as the Authority may specify by notice in writing, if the Authority is satisfied that the non‑compliance by that licensed trade repository or licensed foreign trade repository with that provision will not detract from the objectives specified in section 81T.(3) It shall not be necessary to publish any exemption granted under subsection (2) in the Gazette.”.