10. Transfers and pledges effected by other means
Feedback & supportNotwithstanding section 9, a transfer or a pledge of a book‑entry Treasury Bill, or any interest therein, which is maintained by the Authority in an account may be effected by any means that would be effective to effect a transfer or pledge of a book‑entry Treasury Bill, or any interest therein, if the Bill was issued by the Authority in the form of engraved or printed certificates.
pledge
“pledge” includes a pledge of, or any security interest in, a book‑entry Treasury Bill —(a)as collateral for loans or advances; or(b)to secure deposits of public moneys or the performance of an obligation;
The Authority shall be deemed not to be —
a bailee for purposes of notification of pledges of book‑entry Treasury Bills not effected in accordance with section 9; and
a person in possession of book-entry Treasury Bills for purposes of acknowledgment of transfers of such Bills not effected in accordance with section 9.
Where book-entry Treasury Bills are recorded on the books of a depositary institution for account of the pledgor or transferor thereof and such Treasury Bills are on deposit with the Authority in an account, the depositary institution shall, for the purposes of effecting delivery of the book‑entry Treasury Bills to a purchaser or pledgee, be deemed to be —
depositary institution
“depositary institution” means a financial institution approved by the Authority which regularly —(a)accepts in the course of its business book‑entry Treasury Bills by way of a custodial service for its customers; and(b)maintains accounts in the names of its customers reflecting ownership or interest in such book‑entry Treasury Bills;
the bailee to which notification of the pledge of the book‑entry Treasury Bills may be given; or
the person in possession from which acknowledgment of the holding of the book‑entry Treasury Bills may be obtained.
The Authority shall not accept any notice or advice of a transfer or pledge of any book‑entry Treasury Bill not effected in accordance with section 9 and any such notice or advice shall be void.
book-entry Treasury Bill
“book-entry Treasury Bill” means a Treasury Bill issued in Singapore under this Act in the form of an entry on the records of the Authority;
The Authority may continue to deal with its depositor in accordance with this Act notwithstanding any transfer or pledge not effected in accordance with section 9.
depositor
“depositor” means any person in whose name an account is established and maintained on the records of the Authority;