Singapore legislation
Regulation 11B
of Securities and Futures (Reporting of Derivatives Contracts) Regulations 2013
Regulation 11B
Cases where specified person was previously prohibited under laws or requirements of jurisdiction specified in Fifth Schedule from reporting counterparty information on specified derivatives contract
Subregulation 1
A specified person who is a party to a specified derivatives contract that is entered into, or executes or causes to be executed a specified derivatives contract as an agent of a party to the specified derivatives contract, before the specified date need not report any counterparty information on the specified derivatives contract at such time or times and in the form and manner specified in regulations 7 and 9, but must report the counterparty information in accordance with paragraph (2).
Subregulation 2
Subject to paragraph (3), the specified person to whom paragraph (1) applies must report the counterparty information set out in Part 1 of the First Schedule in respect of the specified derivatives contract not later than the specified date.
Subregulation 3
A specified person need not comply with paragraph (2) if the specified derivatives contract ceases to be in force before the specified date.
Subregulation 4
In this regulation —
Definition
“date of change” means the date on which there is a change in a requirement of the law of any jurisdiction specified in the Fifth Schedule or a requirement of any authority of any jurisdiction specified in the Fifth Schedule, whether such change occurred before, on or after 1 January 2019, where had the change not come into force, the specified person mentioned in paragraph (1) would have been completely prohibited from reporting any counterparty information set out in Part 1 of the First Schedule in respect of the specified derivatives contract mentioned in that paragraph;
Definition
“specified date” is 1 July of the year immediately following the date of change.