Singapore legislation
Clause 25
Clause 25
Register of securities
(1)
A person to whom this Part applies shall maintain a register in the prescribed form of the securities in which he has an interest.
(2)
The register required to be kept under this Part shall be kept at such place in Singapore as he nominates in his application for a licence.
(3)
Particulars of the securities in which a person to whom this Part applies has an interest and particulars of his interest in those securities shall be entered in the register within seven days of the acquisition of the interest or of the date of the coming into operation of this Act.
(4)
For the purposes of this section —
where a person has an interest under a trust and the property subject to the trust consists of or includes securities and a person knows or has reasonable grounds for believing that he has an interest under the trust and that the property subject to the trust consists of or includes those securities that person shall be deemed to have an interest in those securities;
where a body corporate has an interest in securities and —
the body corporate is or its directors are accustomed or under an obligation whether formal or informal to act in accordance with the directions, instructions or wishes of a person in relation to those securities; or
a person has, the associates of a person have, or a person and his associate have, a controlling interest in the body corporate,that person shall be deemed to have an interest in those securities; and
where a body corporate that has not more than twenty members has an interest in securities a person who is a member of the body corporate and an associate of such a person shall be deemed to have an interest in those securities.
(5)
Where there is a change (not being a prescribed change) in the interest or interests of a person to whom this Part applies in securities he shall enter in the register full particulars of the change including the date of the change and the circumstances by reason of which that change has occurred.