Singapore legislation
Regulation 20
of Monetary Authority of Singapore (Book-Entry MAS Securities and Primary Dealers) Regulations 2013
Regulation 20
Conditions of holding book-entry MAS securities
A person or beneficial owner who is exempt under any written law from paying income tax in respect of interest on any book‑entry MAS securities (not being book-entry MAS securities where the interest is exempt from income tax) may hold those securities only with the written permission of the Authority.