Singapore legislation
Regulation 7
of Securities and Futures (Trade Repositories) Regulations 2013
Regulation 7
Minimum requirements for licence
Subregulation 1
For the purposes of section 46E(6) of the Act, the Authority shall not grant an applicant a trade repository licence, unless the applicant has demonstrated to the Authority’s satisfaction that —
the applicant is able to meet the obligations of, and comply with the requirements imposed on, a licensed trade repository under the Act; and
the applicant is able to maintain a minimum base capital of at least $10,000,000.
Subregulation 2
For the purposes of section 46E(6) of the Act, the Authority shall not grant an applicant a foreign trade repository licence, unless the applicant has demonstrated to the Authority’s satisfaction that the applicant is able to meet the obligations of, and comply with the requirements imposed on, a licensed foreign trade repository under the Act.
Subregulation 3
In this regulation, “base capital”, in relation to an applicant, means the amount remaining after deducting any interim loss in the latest accounts of the applicant, and any dividend that has been declared since the latest accounts of the applicant, from the sum of the following items:
the paid-up ordinary share capital of the applicant in the latest accounts of the applicant;
the paid-up irredeemable and non-cumulative preference share capital of the applicant in the latest accounts of the applicant; and
any unappropriated profit or loss in its latest audited accounts of the applicant.