Singapore legislation
Clause 30
Clause 30
Amendment of section 81ZG
Section 81ZG of the principal Act is amended —
by deleting subsections (1), (2) and (3) and substituting the following subsections:“(1) The securities or securities‑based derivatives contracts of an approved holding company must not be listed for quotation on an organised market that is operated by any of its related corporations, unless the approved holding company and the operator of the organised market have entered into such arrangements as the Authority may require —
for dealing with possible conflicts of interest that may arise from such listing; and
for the purpose of ensuring the integrity of the trading of the securities or securities‑based derivatives contracts (as the case may be) of the approved holding company.(2) Where the securities or securities‑based derivatives contracts of an approved holding company are listed for quotation on an organised market operated by any of its related corporations, the Authority may act in place of the operator of the organised market in making decisions and taking action, or require the operator of the organised market to make decisions and to take action on behalf of the Authority, on —
the admission of the approved holding company to, or the removal of the approved holding company from, the official list of the organised market; and
the granting of approval for the securities or securities‑based derivatives contracts (as the case may be) of the approved holding company to be, or the stopping or suspending of the securities or securities‑based derivatives contracts (as the case may be) of the approved holding company from being, listed for quotation or quoted on the organised market.(3) The Authority may, by notice in writing to the operator of the organised market —
modify the listing rules of the organised market for the purpose of their application to the listing of the securities or securities‑based derivatives contracts of the approved holding company for quotation or trading; or
waive the application of any listing rule of the organised market to the approved holding company.”; and
by deleting the words “securities market” in the section heading and substituting the words “organised market”.