Clause 68

by deleting subsection (1) and substituting the following subsections:“(1) The Authority may, upon an application made to the Authority in such form and manner as may be prescribed by regulations made under section 341, recognise a collective investment scheme constituted outside Singapore, subject to —

subsection (2);

the conditions specified in subsection (3); and

such conditions or restrictions as the Authority may think fit to impose by notice in writing.(1A) The Authority may, at any time, by notice in writing to the responsible person for a collective investment scheme recognised under subsection (1), vary or revoke any condition or restriction imposed by the Authority under subsection (1)(c) or impose such further condition or restriction as the Authority may think fit.”; and

by inserting, immediately after the words “subsections (2) and (3),” in subsection (9), the words “and every condition or restriction imposed by the Authority under subsection (1)(c) or (1A),”.