Singapore legislation

Clause 102

of Securities and Futures (Amendment) Bill

Clause 102

Amendment of section 219

Section 219 of the principal Act is amended —

(a)

by inserting, immediately after the word “securities” in subsection (1)(a), the words “, securities‑based derivatives contracts or CIS units”;

(b)

by inserting, immediately after the word “securities” in subsections (1)(b) and (2)(a) and (b), the words “, securities‑based derivatives contracts or CIS units, as the case may be”; and

(c)

by deleting subsection (3) and substituting the following subsection:“(3) The insider must not, directly or indirectly, communicate the information mentioned in subsection (1), or cause the information to be communicated, to another person if the insider knows, or ought reasonably to know, that the other person would or would be likely to —

(a)

subscribe for, purchase or sell, or enter into an agreement to subscribe for, purchase or sell, the securities, securities‑based derivatives contracts or CIS units mentioned in subsection (1); or

(b)

procure a third person to subscribe for, purchase or sell, or to enter into an agreement to subscribe for, purchase or sell, the securities, securities‑based derivatives contracts or CIS units mentioned in subsection (1).”.