Singapore legislation
Regulation 12
of Securities and Futures (Central Depository System) Regulations 2015
Regulation 12
Procedure on transmission of title by Court order
Subregulation 1
Where by virtue of any provision in the Act, the Companies Act (Cap. 50) or any other written law, the title to a book‑entry security is by a Court order transferred to or vested in another person (called in this regulation the successor), the procedures in this regulation must be followed.
Subregulation 2
The successor must notify the Depository or the depository agent, as the case may be, that title to the book‑entry security has been transferred to or vested in the successor.
Subregulation 3
A notice under paragraph (2) must —
be in the relevant form;
be accompanied by a copy of the Court order and the provision in the written law under which the order transferring or vesting title is made;
state the name and address of the successor and such other information as the Depository or the depository agent may require; and
specify —
that the successor wishes to have his or her name registered in the Depository Register as holder of the book-entry securities; or
that the successor wishes the book‑entry securities to be transferred to another person, giving the name and securities account number of that person.
Subregulation 4
The Depository or the depository agent, as the case may be, must give effect to the wishes of the successor upon payment of the transfer fees laid down by the Depository or the depository agent.