Regulation 2

In this Notification —“Authority” means the Monetary Authority of Singapore established under the Monetary Authority of Singapore Act (Cap. 186);“financial derivatives” means derivatives the payoffs of which are linked, whether in whole or in part, to the payoffs or performance of any financial assets, securities, financial instruments or indices, but does not include derivatives the payoffs of which are linked wholly to the payoffs or performance of commodities;“financial institution” means any institution licensed or approved by the Authority, or exempted from such licensing and approval under any Act administered by the Authority, and includes an institution approved as a Finance and Treasury Centre under section 43G of the Act.