Singapore legislation
Regulation 6
of Financial Services and Markets (Dispute Resolution Schemes) Regulations 2023
Regulation 6
Terms of reference of scheme
Subregulation 1
The operator of an approved dispute resolution scheme must administer the approved dispute resolution scheme in accordance with the approved terms of reference.
Subregulation 2
The operator must publish the approved terms of reference in the manner that the Authority may specify.
Subregulation 3
The operator must not amend any term of reference that specifies any fee payable by a complainant and the relevant member of the approved dispute resolution scheme in respect of any dispute of theirs referred to the operator unless the operator, in addition to obtaining the Authority’s approval to amend the term of reference —
consults the members of the approved dispute resolution scheme on the proposed amendment of the term of reference; and
obtains the approval of the board of directors of the operator to amend the term of reference.