Singapore legislation
Regulation 19
of Securities and Futures (Central Depository System) Regulations 2015
Regulation 19
Procedure for withdrawal of securities
Subregulation 1
A depositor may, on application in writing to the Depository, withdraw any document evidencing title relating to the depositor’s book‑entry securities that are standing to the credit of the depositor’s account with the Depository.
Subregulation 2
Where an application is made under paragraph (1) for withdrawal of a book‑entry security, the Depository must lodge with the issuer —
the documents evidencing title representing the equivalent amount of the book‑entry securities requested to be withdrawn; and
the instruments of transfer duly executed by the Depository for the purpose of effecting the transfer of those securities to the depositor or to any person nominated by him or her.
Subregulation 3
A depositor must, on demand made by the Depository, pay to the Depository the appropriate amount of stamp duty payable on the instrument of transfer to be lodged with an issuer under paragraph (2), together with the appropriate transfer fee (if any) and the withdrawal fees laid down by the Depository.
Subregulation 4
Despite section 130AE of the Companies Act (Cap. 50), an issuer must, within 2 weeks after the documents evidencing title and the instruments of transfer in respect of the securities are lodged with it —
complete and have ready for delivery to the depositor the appropriate certificate registered in the name of the depositor or in the name of any person nominated by the depositor, and any other document in connection with the securities, if any; and
unless otherwise instructed by the depositor, send or deliver the completed certificates and such other documents, if any, to the depositor or to any person nominated by the depositor.
Subregulation 5
The following apply where securities cease to be quoted on the SGX‑ST:
the Depository ceases to act as a depository of the securities;
the securities are to be treated as having been withdrawn from the Depository;
the Depository must, in the name of the depositors, deliver the documents evidencing title to such securities, together with the instruments of transfer in respect of such securities, to the issuer, except for such securities which had expired;
the issuer must, upon receipt of the documents referred to in sub‑paragraph (c), comply with paragraph (4).
Subregulation 6
The documents evidencing title representing the securities are not capable of being traded on a securities market unless they are again deposited with the Depository.