Monetary Authority of Singapore Act 1970 · 2020 Revised Edition · Part 5A · Book-Entry Securities Issued by Authority
137. Authority to be discharged by action on instructions
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The Authority is not liable for conversion or for participation in any breach of fiduciary duty where the Authority has, in respect of book‑entry MAS securities maintained in accounts maintained by the Authority —
made entries regarding the securities; or
transferred or delivered the securities,according to the instructions of its depositor, even though 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 MAS securities upon the instructions of its depositor.