Government Securities (Debt Market and Investment) Act 1992 · 2020 Revised Edition · Part 5 · Book‑Entry Government Securities and Treasury Bills
21. Authority to be discharged by action on instructions
Feedback & supportThe Authority is not liable for conversion or for participation in any breach of fiduciary duty where the Authority has, in respect of book‑entry Government securities maintained in accounts maintained by the Authority —
effected pledges or made entries regarding the securities; or
transferred or delivered the securities,according to the instructions of its depositor even if the depositor had no right to dispose of or take any other action in respect of the securities.
The Authority is fully discharged of its obligations under this Part by the transfer or delivery of book‑entry Government securities upon the instructions of its depositor.
book‑entry Government securities
“book‑entry Government securities” means any stock or bond issued in Singapore under Part 5 in the form of an entry on the records of the Authority;