Singapore legislation
Regulation 5
of Government Securities (Debt Market and Investment) Regulations 2023
Regulation 5
Who can make application
Subregulation 1
An application pursuant to a public notice has to be made —
where an applicant is not a primary dealer — on behalf of the applicant by an agent who is a primary dealer; or
where an applicant is a primary dealer — by the primary dealer, which must be made distinct and separate from any application in sub‑paragraph (a).
Subregulation 2
However, a primary dealer is not eligible to apply for any non‑transferable Government securities pursuant to a public notice except as an agent on behalf of another who is not a primary dealer.
Subregulation 3
Where a primary dealer makes applications under paragraph (1)(a) on behalf of 2 or more other persons, the applications must be kept distinct from each other and submitted separately to the Authority.
Subregulation 4
Where a primary dealer makes both an application to purchase transferable Government securities or Treasury Bills under paragraph (1)(a) on behalf of another person and an application under paragraph (1)(b) to purchase those transferable Government securities or Treasury Bills for itself, the applications must be kept distinct and submitted separately to the Authority.