Singapore legislation
Regulation 16
of Securities and Futures (Central Depository System) Regulations 2015
Regulation 16
Six-monthly statements of accounts to be sent by Depository
Subregulation 1
The Depository must issue to all depositors —
at the end of a period not exceeding 6 months a statement showing the number of book‑entry securities held to the account of the depositors at the date of the statement, except that, if there is no security balance in a depositor’s account no statement need be sent; and
a monthly statement showing the transactions effected in their accounts during the preceding month (if any), except that, if there is no transaction no statement need be sent.
Subregulation 2
The depositor must examine all entries in the statement of account balances and notify the Depository of any error or discrepancy in the statement within 14 days after the date of the statement.
Subregulation 3
If no notification is received by the Depository within 14 days after the date of the statement —
the depositor is to be treated as having agreed to release the Depository from liability; and
the Depository is not liable for any loss suffered by the depositor by reason of the Depository having debited or credited or omitting to debit or credit any amount of book‑entry securities in or to the depositor’s securities account.