Significant Infrastructure Government Loan Act 2021 · 2020 Revised Edition · Part 3 · Terms of Securities
13. Early redemption
Feedback & supportThe holder of a security that is issued under this Act and not redeemable at the election of the holder may, upon an invitation of the MAS under this section, apply to redeem the security before the maturity date of the security.
security
“security” includes stock, bonds, notes, certificates, bills and similar instruments;
The MAS may by public notice invite the public to apply to redeem any security issued under this Act before the maturity date of the security where that security is —
MAS
“MAS” means the Monetary Authority of Singapore established under the Monetary Authority of Singapore Act 1970;
not redeemable at the election of the holder; and
specified or described in the public notice.
The public notice mentioned in subsection (2) may specify —
the terms and conditions relating to the early redemption of the security specified or described in the public notice, including the manner in which any offer for early redemption has to be made; and
such other information as the MAS may consider necessary.
However, the MAS may refuse any application to redeem any security before the maturity date of the security without assigning any reason.
maturity date
“maturity date”, for any security issued under this Act, means the date —(a)specified, in accordance with the Regulations relating to the issue of that security, as the date on which the security is redeemable at par; or(b)specified by the Minister in the terms of the issue as the date on which the security is redeemable at par where the Regulations do not apply to that issue;