Singapore legislation

Section 29C

of Government Securities Act 1992

Section 29C

Directions to primary dealers

(1)

The Authority may give directions to be observed by any primary dealer or class of primary dealers —

(a)

to ensure the continuity or reliability of the provision of services by the primary dealer or class of primary dealers to its or their customers; or

(b)

in the public interest.

(2)

A direction under subsection (1) —

(a)

must require the primary dealer or every primary dealer in that class of primary dealers concerned (according to the circumstances of the case) to do, or not to do, such things as are specified in the direction or are of a description as specified in the direction, including but not limited to the manner in which the primary dealer conducts the business mentioned in section 29A(1) with its customers;

(b)

takes effect at such time, being the earliest practicable time, as is determined by or under that direction; and

(c)

may be varied or revoked at any time by the Authority.

(3)

Every primary dealer must comply with every direction of the Authority given to the dealer under this section.

(4)

It is not necessary to publish any direction in the Gazette.

Read in full context — Government Securities Act 1992 →