Singapore legislation
Regulation 18
of Monetary Authority of Singapore (Book-Entry MAS Securities and Primary Dealers) Regulations 2013
Regulation 18
Crediting of interest on book-entry MAS securities
Subregulation 1
Interest on any book-entry MAS securities must be credited into the appropriate account for book‑entry MAS securities maintained by the Authority for the owner of the book‑entry MAS securities or for the depositary institution which holds the book‑entry MAS securities for the account of the owner.
Subregulation 2
Where interest on any book-entry MAS securities is credited into an account of book-entry MAS securities maintained by the Authority for a depositary institution which holds the book‑entry MAS securities for the account of the owner thereof, the depositary institution must forthwith credit the interest into the appropriate account of the owner of the book‑entry MAS securities maintained at that institution.