Clause 80

by deleting subsection (1) and substituting the following subsection:“(1) A foreign regulatory authority of a country or territory other than Singapore may conduct an inspection in Singapore of the books of —

the holder of a capital markets services licence;

a person exempted under section 99(1)(a), (b), (c), (d) or (h) from the requirement to hold a capital markets services licence;

an approved exchange;

a recognised market operator incorporated in Singapore;

a licensed trade repository;

an approved clearing house;

a recognised clearing house incorporated in Singapore;

an approved holding company incorporated in Singapore;

an approved trustee mentioned in section 289;

an authorised benchmark administrator;

an exempt benchmark administrator;

an authorised benchmark submitter;

an exempt benchmark submitter; or

a designated benchmark submitter,(called in this section and in section 150C a relevant person) with the prior written approval of the Authority and under conditions of secrecy.”;

by deleting paragraph (b) of subsection (2) and substituting the following paragraph:“(b)whether the foreign regulatory authority has regulatory oversight in its jurisdiction over the relevant person;”; and

by deleting subsection (4) and substituting the following subsection:“(4) The Authority may, in relation to an inspection by a foreign regulatory authority conducted or to be conducted under this section on the relevant person, at any time, by notice in writing to the relevant person impose any conditions or restrictions on the relevant person, and the relevant person must comply with such conditions or restrictions.”.