Singapore legislation
Regulation 2
of Financial Advisers (Structured Deposits — Prescribed Investment Product and Exemption) Regulations
Regulation 2
Definitions
In these Regulations, unless the context otherwise requires —“bank” means a bank in Singapore or a merchant bank;“bank in Singapore” has the same meaning as in section 2(1) of the Banking Act (Cap. 19);“credit derivative” means a financial contract which is designed to transfer credit risk on loans or other assets between 2 parties;“credit event”, in relation to a credit derivative, means any event agreed upon between the contracting parties to the credit derivative which triggers a payout or delivery of assets under the credit derivative;“deposit” means —
a deposit as defined in section 4B of the Banking Act (Cap. 19), in a case where the deposit is accepted by a bank; or
a deposit as defined in section 2 of the Finance Companies Act (Cap. 108), in a case where the deposit is accepted by a finance company as defined in that section of that Act;“dual currency investment” means a deposit which is accepted in one currency and which may be repayable in another currency;“merchant bank” means any merchant bank that holds a merchant bank licence, or is treated as having been granted a merchant bank licence, under the Banking Act;“structured deposit” means —
a deposit under which any interest or premium is payable, or is at risk, in accordance with a formula which is based on —
the performance of any financial instrument or specified products as defined in section 2(1) of the Securities and Futures Act (Cap. 289); or
the occurrence of any credit event in respect of a credit derivative —
to which the bank or the finance company, as the case may be, is a contracting party; or
from which the bank or the finance company, as the case may be, would enjoy a benefit or incur a loss; or
a dual currency investment.
Definition
“bank” means a bank in Singapore or a merchant bank;
Definition
“bank in Singapore” has the same meaning as in section 2(1) of the Banking Act (Cap. 19);
Definition
“credit derivative” means a financial contract which is designed to transfer credit risk on loans or other assets between 2 parties;
Definition
“credit event”, in relation to a credit derivative, means any event agreed upon between the contracting parties to the credit derivative which triggers a payout or delivery of assets under the credit derivative;
Definition
“deposit” means —
a deposit as defined in section 4B of the Banking Act (Cap. 19), in a case where the deposit is accepted by a bank; or
a deposit as defined in section 2 of the Finance Companies Act (Cap. 108), in a case where the deposit is accepted by a finance company as defined in that section of that Act;
Definition
“dual currency investment” means a deposit which is accepted in one currency and which may be repayable in another currency;
Definition
“merchant bank” means any merchant bank that holds a merchant bank licence, or is treated as having been granted a merchant bank licence, under the Banking Act;
Definition
“structured deposit” means —
a deposit under which any interest or premium is payable, or is at risk, in accordance with a formula which is based on —
the performance of any financial instrument or specified products as defined in section 2(1) of the Securities and Futures Act (Cap. 289); or
the occurrence of any credit event in respect of a credit derivative —
to which the bank or the finance company, as the case may be, is a contracting party; or
from which the bank or the finance company, as the case may be, would enjoy a benefit or incur a loss; or
a dual currency investment.