Singapore legislation
Clause 211
Clause 211
Consequential and related amendments to Trust Companies Act
The Trust Companies Act (Cap. 336, 2006 Ed.) is amended —
by inserting, immediately after the definition of “book” in section 2, the following definition:“ “capital markets products” has the same meaning as in section 2(1) of the Securities and Futures Act (Cap. 289);”;
by inserting, immediately after the definition of “chief executive” in section 2, the following definition:“ “collective investment scheme” has the same meaning as in section 2(1) of the Securities and Futures Act;”;
by inserting, immediately after the definition of “securities” in section 2, the following definition:“ “specified securities-based derivatives contract” has the same meaning as in section 2(1) of the Securities and Futures Act;”;
by inserting, immediately after the definition of “trust business service” in section 2, the following definition:“ “unit” has the same meaning as in section 2(1) of the Securities and Futures Act;”;
by deleting the words “for securities” wherever they appear in section 15(1)(c);
by deleting the words “sale of securities or futures contracts” in section 27(1) and substituting the words “sale of any capital markets products”;
by deleting the words “sell securities or futures contracts” in section 27(1) and substituting the words “sell the capital markets products”; and
by deleting the words “and securities” wherever they appear in section 59(1) and substituting in each case the words “, securities, specified securities‑based derivatives contracts and units in a collective investment scheme”.