Singapore legislation

Clause 65

of Securities and Futures (Amendment) Bill

Clause 65

Amendment of section 239

Section 239(1) of the principal Act is amended —

(a)

by deleting the definition of “chief executive officer”;

(b)

by inserting, immediately after the definition of “issuer”, the following definition:“ “limited liability partnership” means any limited liability partnership whether registered in Singapore under the Limited Liability Partnerships Act (Cap. 163A) or otherwise;”; and

(c)

by deleting the definition of “securities” and substituting the following definition:“ “securities” means —

(a)

shares or units of shares of a corporation;

(b)

debentures or units of debentures of an entity;

(c)

interests in a limited partnership or limited liability partnership formed in Singapore or elsewhere; or

(d)

such other product or class of products as the Authority may prescribe,but does not include such other product or class of products as the Authority may prescribe as not being securities;”.

Clause 65 — Securities and Futures (Amendment) Bill