Singapore legislation

Clause 32

of Financial Services and Markets Bill

Clause 32

Approval of chief executive officer and directors of dispute resolution scheme operator

(1)

It is a condition of an approval for any dispute resolution scheme approved under section 31(1) that the operator of an approved dispute resolution scheme must not appoint a person as its chief executive officer or director without the prior approval of the Authority.

(2)

Without limiting any other matter that the Authority may consider relevant, the Authority may, in determining whether to grant its approval under subsection (1), have regard to such criteria as may be prescribed or as the Authority may notify in writing to the operator of the dispute resolution scheme.