Singapore legislation
Regulation 6
of Securities and Futures (Exemption for Cross-Border Arrangements) (Foreign Offices) Regulations 2021
Regulation 6
Exemption for foreign representatives carrying out regulated activities for foreign offices of specified exempt persons
Subregulation 1
A foreign representative of a specified exempt person exempt under regulation 4(1)(a) or (b) or 5(1) or (2), when acting as a representative of the specified exempt person that is carrying on the qualifying business mentioned in regulation 4(1)(a) or (b) or 5(1) or (2) (as the case may be), is exempt from —
section 99B(1) of the Act in respect of any regulated activity carried out under that qualifying business, unless the regulated activity is product financing or providing custodial services; and
regulations 14(4A), 44 and 47 of the Securities and Futures (Licensing and Conduct of Business) Regulations in respect of any regulated activity carried out under that qualifying business.
Subregulation 2
A foreign representative of a specified exempt person exempt under regulation 4(1)(c), when acting as a representative of the specified exempt person that is carrying on the qualifying business mentioned in that regulation, is exempt from section 99B(1) of the Act and regulation 14(4A) of the Securities and Futures (Licensing and Conduct of Business) Regulations in respect of any regulated activity carried out under that qualifying business.
Subregulation 3
A foreign representative of a specified exempt person exempt under regulation 4(1)(d) or (e), when acting as a representative of the specified exempt person that is carrying on the qualifying business mentioned in that regulation is exempt from section 99A of the Act in respect of any regulated activity carried out under that qualifying business.