Singapore legislation
Regulation 6
of Trust Companies (Transitional and Savings Provisions) Regulations
Regulation 6
Dissolution of trust business
For the purposes of regulations 3 and 4, where the application for the grant of a trust business licence is refused, the company or the person, as the case may be, shall cease carrying on any trust business within 6 months from the date of the notification of the rejection of the application or such other period as the Monetary Authority of Singapore may allow.