Singapore legislation
Section 337
Section 337
Exemption
(1)
The Authority may, by regulations, exempt any person, capital markets product, matter or transaction, or any class thereof, from all or any of the provisions of this Act, subject to such conditions or restrictions as may be prescribed.
(2)
Subject to any express provision to the contrary in this Act, an exemption granted to a person or in respect of any capital markets product, matter or transaction (other than an exemption granted to a class of persons, capital markets products, matters or transactions) under any provision of this Act other than subsection (1), or a revocation thereof, may be notified in writing to the person concerned, and need not be published in the Gazette.
(3)
The Authority may, on the application of any person, by written notice exempt the person from all or any of the requirements specified in any direction made by the Authority under this Act.
(4)
An exemption granted under subsection (3) —
may be granted subject to such conditions or restrictions as the Authority may specify by written notice; and
for the avoidance of doubt, need not be published in the Gazette and may be revoked at any time by the Authority.
(4A)
The Authority may at any time add to, vary or revoke any condition or restriction imposed under this section.
(5)
Any person who contravenes any condition or restriction imposed under subsection (1) or (4)(a) (including any condition or restriction added or varied under subsection (4A)) shall be guilty of an offence.