Singapore legislation

Schedule 2

of Financial Services and Markets Bill

Schedule 2

Excluded persons

SECOND SCHEDULESections 137(5)(b) and 190(1)Excluded persons

1. For the purpose of section 137(5)(b), the specified persons are —

(a)

any public statutory corporation established under any Act in Singapore;

(b)

any —

(i)

advocate and solicitor who has in force a practising certificate or regulated foreign lawyer;

(ii)

licensed foreign law practice, Singapore law practice, Joint Law Venture or Qualifying Foreign Law Practice, as defined in section 2(1) of the Legal Profession Act 1966; or

(iii)

public accountant who is registered under the Accountants Act 2004 or accounting corporation which is approved under that Act,whose carrying on of the business in providing digital token service is solely incidental to the practice of law or accounting, as the case may be;

(c)

the Official Assignee or Official Receiver in exercising his or her powers under the Insolvency, Restructuring and Dissolution Act 2018 or under any other written law;

(d)

the Public Trustee in exercising his or her powers under the Public Trustee Act 1915;

(e)

a person acting in relation to a company as its liquidator, provisional liquidator, receiver, receiver and manager or judicial manager;

(f)

a statutory manager appointed under section 61(2)(d) of the Moneylenders Act 2008;

(g)

a person acting in relation to a limited liability partnership as its liquidator, provisional liquidator, receiver or receiver and manager;

(h)

a person acting in relation to a partnership as its receiver or receiver and manager; and

(i)

a person acting in relation to a VCC as the liquidator or provisional liquidator of the VCC or any of its sub‑funds, or the receiver or the receiver and manager of the property of the VCC or any of its sub‑funds.

2. For the purpose of paragraph 1 —“advocate and solicitor”, “practising certificate” and “regulated foreign lawyer” have the meanings given by section 2(1) of the Legal Profession Act 1966;“Official Assignee” and “Official Receiver” have the meanings given by section 2(1) of the Insolvency, Restructuring and Dissolution Act 2018;“sub-fund” has the meaning given by section 2(1) of the Variable Capital Companies Act 2018;“VCC” has the meaning given by section 2(1) of the Variable Capital Companies Act 2018.