123K. Power of Authority to exempt corporations from authorisation

Terms defined in s 2

• administering a designated benchmark

  administering a designated benchmark

  Defined · s 2

  “administering a designated benchmark” means —(a)controlling the development of the definition of a designated benchmark for the purpose of determining a designated benchmark;(b)controlling the development of the methodology of determining a designated benchmark;(c)controlling the review of the definition of a designated benchmark for the purpose of determining a designated benchmark;(d)controlling the review of the methodology of determining a designated benchmark;(e)managing any arrangements, processes or mechanisms for the purpose of determining a designated benchmark;(f)collecting, analysing or processing any information or expression of opinion for the purpose of determining a designated benchmark;(g)applying a formula or other methods of calculation to information or expressions of opinion in order to determine a designated benchmark; or(h)monitoring and conducting surveillance of any information or expressions of opinion provided for the purpose of determining a designated benchmark,but does not include providing information in relation to a designated benchmark or any act that is necessary or incidental to providing such information;

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• authorised benchmark administrator

  authorised benchmark administrator

  Defined · s 2

  “authorised benchmark administrator” means a corporation that is authorised by the Authority under section 123F(1) as an authorised benchmark administrator;

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• Authority

  Authority

  Defined · s 2

  “Authority” means the Monetary Authority of Singapore established under the Monetary Authority of Singapore Act 1970;

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• corporation

  corporation

  Defined · s 2

  “corporation” has the meaning given by section 4(1) of the Companies Act 1967;

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• designated benchmark

  designated benchmark

  Defined · s 2

  “designated benchmark” means a financial benchmark that is designated by the Authority under section 123B to be a designated benchmark;

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• exempt benchmark administrator

  exempt benchmark administrator

  Defined · s 2

  “exempt benchmark administrator” means a person who is exempted under section 123K(1) from the requirement to be an authorised benchmark administrator;

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