Singapore legislation
Clause 5
of Home Affairs Uniformed Services Superannuation (Amendment) Bill
Clause 5
Amendment of section 15
Section 15 of the principal Act is amended by inserting, immediately after subsection (3), the following subsection:“(4) In this section —“derivatives contract” has the meaning given by section 2(1) of the Securities and Futures Act (Cap. 289);“effective management”, for an investment portfolio, includes —
the efficient exposure of the portfolio to certain assets or classes of assets;
the diversification of investments within the portfolio;
the reduction of costs relating to the portfolio; or
the enhancement of the value of, or the returns on, the portfolio;“investments” means —
the acquisition of assets, or interests in assets, with the expectation of obtaining returns (whether in the form of capital or income) on such assets or interests; or
the use of financial products (including, without limitation, any derivatives contract) or the entering into financial arrangements for the purposes of effective management of an investment portfolio.”.