Singapore legislation

Clause 9

of Commodity Futures (Amendment) Bill

Clause 9

Amendment of section 13

Section 13 of the principal Act is amended —

(a)

by deleting the word “No” in the 1st line of subsection (1) and substituting the words “Subject to section 14A, no”;

(b)

by deleting the word “or” at the end of subsection (1)(d);

(c)

by deleting the comma at the end of paragraph (e) of subsection (1) and substituting a semi-colon, and by inserting immediately thereafter the following paragraphs:“(f)a commodity broker’s representative;

(g)

a commodity trading adviser;

(h)

a commodity trading adviser’s representative;

(i)

a commodity pool operator; or

(j)

a commodity pool operator’s representative,”;

(d)

by inserting, immediately after subsection (2), the following subsections:“(2A) A holder of a commodity futures broker’s licence shall not be required to hold a commodity broker’s licence for the purposes of carrying out any activity under this Act as authorised under a commodity broker’s licence.(2B) A holder of a commodity broker’s licence shall not be required to hold a commodity trading adviser’s licence.”;

(e)

by deleting “$30,000” in subsection (6)(a) and substituting “$100,000”; and

(f)

by deleting “$10,000” in subsection (6)(b) and substituting “$50,000”.

Read in full context — Commodity Futures (Amendment) Bill →