Singapore legislation
Regulation 3
Regulation 3
Exemption for foreign companies trading under approved arrangements with related corporations
Subregulation 1
This regulation applies to a foreign company that, immediately before 27 February 2008, was carrying on a trade in futures contracts (not being commodity futures contracts) under an arrangement with its related corporation, being an arrangement that has been and continues to be approved by the Authority under paragraph 9 of the Third Schedule to the Act.
Subregulation 2
A foreign company to which this regulation applies is exempt from the requirement under section 82(1) of the Act to hold a capital markets services licence to carry on business in dealing in capital markets products that are commodity futures contracts under the same terms of arrangement mentioned in paragraph (1).
Subregulation 3
In this regulation, “commodity futures contracts” has the meaning given by section 2 of the Commodity Trading Act 1992 as in force immediately before 27 February 2008.