Singapore legislation

Clause 19

of Significant Infrastructure Government Loan Bill

Clause 19

Issue of book‑entry securities

(1)

The MAS may —

(a)

issue book‑entry securities for moneys borrowed under this Act, by means of entries on its records which include the name of the depositor and the amount and description of the securities;

(b)

maintain accounts of book‑entry securities for moneys borrowed under this Act —

(i)

for any depositor on such terms and conditions as may be specified by the MAS for such securities the depositor holds for its own account and, where the depositor is a depositary institution, for the account of its customers;

(ii)

for the Government; and

(iii)

for the MAS; and

(c)

otherwise service and maintain such book‑entry securities.

(2)

The MAS is authorised to take all action necessary in respect of book‑entry securities to enable the MAS in its own capacity to perform its obligations as depositary with respect to such securities.

Read in full context — Significant Infrastructure Government Loan Bill →