Singapore legislation

Clause 93

of Financial Institutions (Miscellaneous Amendments) Bill

Clause 93

Amendment of Schedules

In the Securities and Futures Act 2001 —

(a)

in the First Schedule, in paragraph 1(1)(a) and (2)(a) and (b), replace “securities or units” wherever it appears with “issued securities or issued units”;

(b)

in the First Schedule, in paragraph 1(1)(b), replace “facility or class of facilities” with “place or class of places, or facility or class of facilities,”;

(c)

in the First Schedule, in paragraph 1, after sub‑paragraph (2), insert —“(3) In this paragraph —“issued securities”, in relation to an offer or invitation to exchange, sell or purchase those securities, means securities that have already been issued when the offer or invitation is made;“issued units in collective investment schemes”, in relation to an offer or invitation to exchange, sell or purchase those units, means units in collective investment schemes that have already been issued when the offer or invitation is made.”;

(d)

in the First Schedule, in paragraph 4(1), in the definition of “clearing or settlement”, replace paragraph (d) with —“(d)parties to those transactions meet their obligations under such transactions, including the obligation to deliver, the transfer of funds, the transfer of title to securities between the parties, or the transfer of interest in or title to derivatives contracts or units in a collective investment scheme between the parties.”;

(e)

in the First Schedule, in paragraph 4(2)(b), after “control of securities”, insert “, derivatives contracts or units in a collective investment scheme”;

(f)

in the Fourth Schedule, after item 3, insert —“3A.Section 41A(10)3B.Section 41C(12)”;

(g)

in the Fourth Schedule, after item 12, insert —“12A.Section 81AA(10)12B.Section 81AC(12)”;

(h)

in the Fourth Schedule, after item 26, insert —“26A.Section 240AB(2)”; and

(i)

in the Fourth Schedule, after item 32, insert —“32A.Section 296A(6)”.