Singapore legislation
Regulation 4
of Trust Companies (Transitional and Savings Provisions) Regulations
Regulation 4
Persons not registered under repealed Act
Any person who, immediately before 1st February 2006, was a person who was carrying out trust business but was not registered under the repealed Act shall, as from that date, be exempted from the requirement under the Act to hold a trust business licence to carry on trust business —
(a)
until 1st June 2006; or
(b)
where an application for the grant of a trust business licence under the Act is made by that person on or before 1st June 2006, until the date on which the trust business licence is granted to that person under the Act or the application is refused or withdrawn,whichever is the later.