Singapore legislation
Regulation 8
Regulation 8
Reporting of short position
Subregulation 1
For the purpose of section 137ZK(1) of the Act, where A’s short position in relation to any specified capital markets products is equivalent to or more than the short position threshold, A must report the information specified in paragraph (2) to the Authority —
in the form specified in the electronic online system; and
by electronically filing the form directly or through B, with the Authority within 2 business days after the short position day.
Subregulation 2
For the purposes of paragraph (1), the information is all of the following:
the following information on A:
name;
if A is an entity or trust —
business activities; and (B)if A is registered with any public agency for the purpose of carrying on its business, the public agency and the registration number assigned to A by the public agency;
if A is an individual, A’s identity card number or passport number;
if A electronically files the form mentioned in paragraph (1) with the Authority through B, the following information on B: (i)name;
if B is an entity or trust —
business activities; and (B)if B is registered with any public agency for the purpose of carrying on its business, the public agency and the registration number assigned to B by the public agency;
if B is an individual, B’s identity card number or passport number;
the following information on A’s short position in relation to the specified capital markets products:
the position day of the specified capital markets products on which the short position is determined;
the stock code of the specified capital markets products;
the short position in relation to the specified capital markets products.
Subregulation 3
Despite paragraph (1), A is not required to provide any information specified in paragraph (2) if A or B has already provided that information to the Authority for the purpose of registration as an account holder.
Subregulation 4
The Authority may by notice require A to provide the Authority, within the period specified in the notice, with additional information or documents regarding either or both of the following: (a)the identity of A; (b)if applicable, the identity of B.
Subregulation 5
If A fails to provide the Authority with the information or documents mentioned in paragraph (4) within the period specified in the notice mentioned in that paragraph, A shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $25,000 and, in the case of a continuing offence, to a further fine not exceeding $2,500 for every day or part of a day during which the offence continues after conviction.
Subregulation 6
In paragraph (1), “short position day” means the position day —
of the specified capital markets products in respect of which the short position mentioned in paragraph (1) is incurred; and
on which the person’s short position is equivalent to or more than the short position threshold.