Regulation 13

Where in any judicial proceedings an injunction or other Court order is made or where a Ministerial order under section 245 of the Companies Act (Cap. 50) is issued which has the effect of restraining the transfer of a book‑entry security or restraining any dealing in a book‑entry security, the order may be served upon the Depository where it relates to an account holder and upon a depository agent where the order relates to a sub‑account.

Where the order is served upon a depository agent, the depository agent must upon receipt of the order, deliver the order to the Depository which is, subject to paragraph (3), under a duty not to transfer or deal in that book‑entry security so long as the injunction or order is in force despite any instruction by a depositor to transfer or deal in the book‑entry security.

Where the injunction or other Court or Ministerial order has the effect of restraining the transfer of a book‑entry security in a sub‑account or restraining any dealing in that book‑entry security, the order must specify the sub‑account number, failing which the Depository or depository agent, as the case may be, is not in breach of duty or liable in contempt proceedings for the failure to restrain the transfer of the book‑entry security or to restrain the dealing in that book‑entry security, as the case may be.

In this regulation, “dealing” in book‑entry security includes withdrawal from the Depository of documents evidencing title in respect of listed securities.