Futures Trading Act · 1996 Revised Edition · Part V · Conduct of Futures Business
39A. Control over Futures Exchange in acquisition of shares in corporation
Feedback & supportLast amended by an amending law of 1995.
No Futures Exchange shall, without the prior approval of the Authority, enter into an agreement to acquire the share capital of any corporation if the result of the acquisition is that the Exchange will acquire or hold, directly or indirectly, an interest of 20% or more of the share capital of that corporation.
Futures Exchange
“Exchange” or “Futures Exchange” means —(a)the Singapore International Monetary Exchange Ltd.; or(b)a body corporate —(i)that provides or proposes to provide the physical facilities necessary for trading in futures contracts; and(ii)that maintains or proposes to maintain a futures market that is approved by the Authority under section 4;
The Authority may grant its approval under subsection (1) with or without conditions or may refuse to grant its approval.
A Futures Exchange that contravenes subsection (1) shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $50,000.