1 Short title
2 Interpretation
3 Associated person
4 Interest in securities, securities-based derivatives contracts or units in a collective investment scheme
4A Specific classes of investors
4B Application
5 Objectives of this Part
6 Interpretation of this Part
Division 1 — Establishment of Organised Markets
7 Requirement for approval or recognition
8 Application for approval or recognition
9 Power of Authority to approve exchanges and recognise market operators
10 General criteria to be taken into account by Authority
11 Annual fees payable by approved exchange and recognised market operator
12 Change in status
13 Cancellation of approval or recognition
14 Power of Authority to revoke approval and recognition
Division 2 — Regulation of Approved Exchanges
Subdivision 1 Obligations of approved exchanges
15 General obligations
16 Obligation to notify Authority of certain matters
17 Obligation to manage risks prudently
18 Obligation to maintain proper records
19 Obligation to submit periodic reports
20 Obligation to assist Authority
21 Obligation to maintain confidentiality
22 Penalties under this Subdivision
Subdivision 2 Rules of approved exchanges
23 Business rules and listing rules of approved exchanges
24 Business rules of approved exchanges have effect as contract
25 Power of court to order observance or enforcement of business rules or listing rules
26 Non-compliance with business rules or listing rules not to substantially affect rights of person
Subdivision 3 Matters requiring approval of Authority
27 Control of substantial shareholding in approved exchange
28 Approval of chairman, chief executive officer, director and key persons
29 Listing, de-listing or trading of certain instruments, contracts and transactions
30 Listing of approved exchange on organised market
31 Additional powers of Authority in respect of auditors
Subdivision 4 Immunity
32 Immunity from criminal or civil liability
Division 3 — Regulation of Recognised Market Operators
33 General obligations
34 Obligation to notify Authority of certain matters
35 Obligation to manage risks prudently
36 Obligation to maintain proper records
37 Obligation to submit periodic reports
38 Obligation to assist Authority
39 Obligation to maintain confidentiality
40 Non-compliance with business rules or listing rules not to substantially affect rights of person
41 Listing, de-listing or trading of certain instruments, contracts and transactions
42 Penalties under this Division
Division 4 — General Powers of Authority
43 Power of Authority to remove officers
44 Power of Authority to make regulations
45 Power of Authority to issue directions
46 Power of Authority in organised market
46AA Emergency powers of Authority
46AAA Interpretation of sections 46AAA to 46AAF
46AAB Action by Authority if approved exchange or recognised market operator unable to meet obligations, etc.
46AAC Effect of assumption of control under section 46AAB
46AAD Duration of control
46AAE Responsibilities of officers, member, etc., of approved exchange or recognised market operator
46AAF Remuneration and expenses of Authority and others in certain cases
46AAG Power of Authority to exempt approved exchange or recognised market operator from provisions of this Part
Division 5 — Voluntary Transfer of Business of Approved Exchange or Recognised Market Operator
46AAH Interpretation of this Division
46AAI Voluntary transfer of business
46AAJ Approval of transfer
46A Objectives of this Part
46B Interpretation of this Part
Division 1 — Licensing of Trade Repositories
46C Holding out as licensed trade repository or licensed foreign trade repository
46D Application for licence
46E Power of Authority to grant trade repository licence or foreign trade repository licence
46F Annual fees payable by licensed trade repository or licensed foreign trade repository
46G Cancellation of trade repository licence or foreign trade repository licence
46H Power of Authority to revoke trade repository licence or foreign trade repository licence
Division 2 — Regulation of Licensed Trade Repositories
Subdivision 1 Obligations of licensed trade repositories
46I General obligations
46J Obligation to manage risks prudently
46K Obligation to notify Authority of certain matters
46L Obligation to maintain proper records
46M Obligation to submit periodic reports
46N Obligation to assist Authority
46O Obligation to maintain confidentiality
46P Penalties under this Subdivision
Subdivision 2 Rules of licensed trade repositories
46Q Business rules of licensed trade repositories
46R Business rules of licensed trade repositories have effect as contract
46S Power of court to order observance or enforcement of business rules
46T Non-compliance with business rules not to substantially affect rights of person
Subdivision 3 Matters requiring approval of Authority
46U Control of substantial shareholding in licensed trade repository
46V Approval of chairman, chief executive officer, director and key persons
Subdivision 4 Powers of Authority
46W (Repealed)
46X Additional powers of Authority in respect of auditors
46Y Emergency powers of Authority
46Z Power of Authority to remove officers of licensed trade repository
Subdivision 5 Immunity
46ZA Immunity from criminal or civil liability
Division 3 — Regulation of Licensed Foreign Trade Repositories
46ZB General obligations
46ZC Obligation to manage risks prudently
46ZD Obligation to notify Authority of certain matters
46ZE Obligation to maintain proper records
46ZF Obligation to submit periodic reports
46ZG Obligation to assist Authority
46ZH Obligation to maintain confidentiality
46ZI Penalties under this Division
Division 4 — General Powers of Authority
46ZIA Interpretation of sections 46ZIA to 46ZIF
46ZIB Action by Authority if licensed trade repository unable to meet obligations, etc.
46ZIC Effect of assumption of control under section 46ZIB
46ZID Duration of control
46ZIE Responsibilities of officers, member, etc., of licensed trade repository
46ZIF Remuneration and expenses of Authority and others in certain cases
46ZJ Power of Authority to make regulations
46ZK Power of Authority to issue directions
46ZL Power of Authority to exempt licensed trade repository or licensed foreign trade repository from provisions of this Part
Division 5 — Voluntary Transfer of Business of Licensed Trade Repository or Licensed Foreign Trade Repository
46ZM Interpretation of this Division
46ZN Voluntary transfer of business
46ZO Approval of transfer
47 Objectives of this Part
48 Interpretation of this Part
Division 1 — Establishment of Clearing Facilities
49 Requirement for approval or recognition
50 Application for approval or recognition
51 Power of Authority to approve or recognise clearing house
52 General criteria to be taken into account by Authority
53 Annual fees payable by approved clearing house or recognised clearing house
54 Change in status
55 Cancellation of approval or recognition
56 Power of Authority to revoke approval and recognition
Division 2 — Regulation of Approved Clearing Houses
Subdivision 1 Obligations of approved clearing houses
57 General obligations
58 Obligation to notify Authority of certain matters
59 Obligation to manage risks prudently, etc.
60 Obligation in relation to customers’ money and assets held by approved clearing house
61 Obligation to maintain proper records
62 Obligation to submit periodic reports
63 Obligation to assist Authority
64 Obligation to maintain confidentiality
65 Penalties under this Subdivision
Subdivision 2 Rules of approved clearing houses
66 Business rules of approved clearing houses
67 Business rules of approved clearing houses have effect as contract
68 Power of court to order observance or enforcement of business rules
69 Non-compliance with business rules not to substantially affect rights of person
Subdivision 3 Matters requiring approval of Authority
70 Control of substantial shareholding in approved clearing house
71 Approval of chairman, chief executive officer, director and key persons
72 Listing of approved clearing houses on organised market
73 Additional powers of Authority in respect of auditors
Subdivision 4 Immunity
74 Immunity from criminal or civil liability
Division 3 — Regulation of Recognised Clearing Houses
75 General obligations
76 Obligation to notify Authority of certain matters
77 Obligation in relation to customers’ money and assets held by recognised clearing house
78 Obligation to maintain proper records
79 Obligation to submit periodic reports
80 Obligation to assist Authority
81 Obligation to maintain confidentiality
81A Penalties under this Division
Division 4 — Insolvency
81B Application of this Division
81C Proceedings of approved clearing house or recognised clearing house shall take precedence over law of insolvency
81D Supplementary provisions as to default proceedings
81E Duty to report on completion of default proceedings
81F Net sum payable on completion of default proceedings
81G Disclaimer of onerous property, rescission of contracts, etc.
81H Adjustment of prior transactions
81I Right of relevant office holder to recover certain amounts arising from certain transactions
81J Application of market collateral not affected by certain other interest, etc.
81K Enforcement of judgments over property subject to market charge, etc.
81L Law of insolvency in other jurisdictions
81M Participant to be party to certain transactions as principal
81N Preservation of rights, etc.
81O Immunity from criminal or civil liability
Division 5 — General Powers of Authority
81P Power of Authority to remove officers
81Q Power of Authority to make regulations
81R Power of Authority to issue directions
81S Emergency powers of Authority
81SA Interpretation of sections 81SA to 81SAE
81SAA Action by Authority if approved clearing house or recognised clearing house unable to meet obligations, etc.
81SAB Effect of assumption of control under section 81SAA
81SAC Duration of control
81SAD Responsibilities of officers, member, etc., of approved clearing house or recognised clearing house
81SAE Remuneration and expenses of Authority and others in certain cases
81SB Power of Authority to exempt approved clearing house or recognised clearing house from provisions of this Part
Division 6 — Voluntary Transfer of Business of Approved Clearing House or Recognised Clearing House
81SC Interpretation of this Division
81SD Voluntary transfer of business
81SE Approval of transfer
Part IIIAA CENTRAL DEPOSITORY SYSTEM
81SF Interpretation of this Part
81SG Application of this Part
81SH Central Depository System
81SI Depository or nominee deemed to be bare trustee
81SJ Depository not member of company and depositors deemed to be members
81SK Depository to certify names of depositors to corporation upon request
81SL Maintenance of accounts
81SM Transfers effected by Depository under book-entry clearing system
81SN Depository to be discharged from liability if acting on instructions
81SO Confirmation of transaction
81SP No rectification of Depository Register
81SQ Trustee, executor or administrator of deceased depositor named as depositor
81SR Non-application of certain provisions in bankruptcy and company liquidation law
81SS Security interest
81ST Depository rules to be regarded as rules of approved exchange that are subject to this Act
81SU Power of Authority to make regulations
81SV Power of Authority to issue written directions
Part IIIA APPROVED HOLDING COMPANIES
81T Objectives of this Part
Division 1 — Establishment of Approved Holding Companies
81U Requirement for approval
81V Application for approval
81W Power of Authority to approve holding companies
81X Annual fees payable by approved holding company
81Y Cancellation of approval
81Z Power of Authority to revoke approval
Division 2 — Regulation of Approved Holding Companies
81ZA Obligation to notify Authority of certain matters
81ZB Obligation to submit periodic reports
81ZC Obligation to assist Authority
81ZD Obligation to maintain confidentiality
81ZE Control of substantial shareholding in approved holding companies
81ZF Approval of chairman, chief executive officer, director and key persons
81ZG Listing of approved holding companies on organised market
81ZGA Information of insolvency, etc.
81ZGB Interpretation of sections 81ZGB to 81ZGG
81ZGC Action by Authority if approved holding company unable to meet obligations, etc.
81ZGD Effect of assumption of control under section 81ZGC
81ZGE Duration of control
81ZGF Responsibilities of officers, member, etc., of approved holding company
81ZGG Remuneration and expenses of Authority and others in certain cases
81ZH Additional powers of Authority in respect of auditors
81ZI Power of Authority to exempt approved holding company from provisions of this Part
81ZJ Power of Authority to remove officers
81ZK Power of Authority to make regulations
81ZL Power of Authority to issue directions
Division 3 — Voluntary Transfer of Business of Approved Holding Company
81ZM Interpretation of this Division
81ZN Voluntary transfer of business
81ZO Approval of transfer
Part IV HOLDERS OF CAPITAL MARKETS SERVICES LICENCE AND REPRESENTATIVES
Division 1 — Capital Markets Services Licence
82 Need for capital markets services licence
83 (Repealed)
84 Application for grant of capital markets services licence
85 Licence fee
86 Grant of capital markets services licence
87 (Repealed)
87A (Repealed)
88 Power of Authority to impose conditions or restrictions
89 (Repealed)
90 Variation of capital markets services licence
91 Deposit to be lodged in respect of capital markets services licence
92 False statements in relation to application for grant or variation of capital markets services licence
93 Notification of change of particulars
94 Records of holders of capital markets services licence
95 Lapsing, revocation and suspension of capital markets services licence
96 Approval of chief executive officer and director of holder of capital markets services licence
97 Removal of officer of holder of capital markets services licence
97A Control of take-over of holder of capital markets services licence
97B Objection to control of holder of capital markets services licence
97C Information of insolvency, etc.
97D Interpretation of sections 97D to 97I
97E Action by Authority if holder of capital markets services licence unable to meet obligations, etc.
97F Effect of assumption of control under section 97E
97G Duration of control
97H Responsibilities of officers, member, etc., of holder of capital markets services licence
97I Remuneration and expenses of Authority and others in certain cases
98 Appeals
99 Exemptions from requirement to hold capital markets services licence
99A Annual fees payable by exempt person and certain representatives
Division 1A — Voluntary Transfer of Business of Holder of Capital Markets Services Licence
99AA Interpretation of this Division
99AB Voluntary transfer of business
99AC Approval of transfer
Division 2 — Representatives
99B Acting as representative
99C Records and public register of representatives
99D Appointed representative
99E Provisional representative
99F Temporary representative
99G Offences
99H Lodgment of documents
99I Exemption
99J Representative to act for only one principal
99K Lodgment and fees
99L Additional regulated activity
99M Power of Authority to refuse entry or revoke or suspend status of appointed, provisional or temporary representative
99N Power of Authority to impose conditions or restrictions
99O False statements in relation to notification of appointed, provisional or temporary representative
99P Appeals
Division 3 — General
100 Power of Authority to make regulations
101 Power of Authority to issue written directions
101A Power of Authority to make prohibition orders
101B Effect of prohibition orders
101C Variation or revocation of prohibition orders
101D Date and effect of prohibition orders
Part V BOOKS, CUSTOMER ASSETS AND AUDIT
Division 1 — Books
102 Keeping of books and furnishing of returns
103 Penalties under this Division
Division 2 — Customer Assets
103A Interpretation of this Division
104 Handling of customer assets
104A Non-availability of customer money and other assets for payment of debt
105 Penalties under this Division
Division 3 — Audit
106 Appointment of auditors
107 Lodgment of annual accounts, etc.
108 Reports by auditor to Authority in certain cases
109 Power of Authority to appoint auditor
110 Power of auditors appointed by Authority
111 Offence to destroy, conceal, alter, etc., books
112 Safeguarding of books
113 Restriction on auditor’s and employee’s right to communicate certain matters
114 Exchanges, etc., may impose additional obligations on members
115 Additional powers of Authority in respect of auditors
116 Defamation
Division 1 — General
117 (Repealed)
118 (Repealed)
119 (Repealed)
120 (Repealed)
121 (Repealed)
122 (Repealed)
123 Power of Authority to make regulations
Part VIAA FINANCIAL BENCHMARKS
123A Objectives of this Part
Division 1 — Designation of Financial Benchmarks
123B Power of Authority to designate financial benchmarks
123C Withdrawal of designation of financial benchmark
Division 2 — Benchmark Administrators of Designated Benchmarks
Subdivision 1 Authorised benchmark administrator
123D Requirement for authorisation
123E Application for authorisation
123F Power of Authority to authorise benchmark administrators
123G Deposit to be lodged by corporation or authorised benchmark administrator
123H False statements in relation to application for authorisation
123I Annual fees payable by authorised benchmark administrator
123J Revocation, suspension or withdrawal of authorisation
Subdivision 2 Exempt benchmark administrator
123K Power of Authority to exempt corporations from authorisation
123L False statements in relation to application for exemption
123M Annual fees payable by exempt benchmark administrator
123N Power to revoke exemption
Subdivision 3 Code on designated benchmark
123O Code on designated benchmark
Subdivision 4 Obligations of authorised benchmark administrators and exempt benchmark administrators
123P General obligations
123Q Obligation to notify Authority of certain matters
123R Obligation to maintain proper records
123S Obligation to submit periodic reports
123T Notification of change of particulars
123U Records of authorised benchmark administrators and exempt benchmark administrators
123V Obligation to assist Authority
123W Penalties under this Subdivision
Subdivision 5 Matters requiring approval of Authority
123X Approval of chief executive officer and director of authorised benchmark administrator
123Y Removal of officer of authorised benchmark administrator
123Z Control of take-over of authorised benchmark administrator
123ZA Objection to control of authorised benchmark administrator
123ZB Appeals
Division 3 — Benchmark Submitters of Designated Benchmarks
Subdivision 1 Authorised benchmark submitter
123ZC Requirement for authorisation
123ZD Application for authorisation
123ZE Power of Authority to authorise benchmark submitters
123ZF False statements in relation to application for authorisation
123ZG Revocation, suspension or withdrawal of authorisation
Subdivision 2 Exempt benchmark submitter
123ZH Exemptions from requirement to be authorised as authorised benchmark submitter
Subdivision 3 Designated benchmark submitter
123ZI Power of Authority to designate benchmark submitters
123ZJ Obligation to provide information for the purposes of determining designated benchmark
123ZK Power of Authority to impose requirements or restrictions
Subdivision 4 Obligations of authorised benchmark submitters, exempt benchmark submitters and designated benchmark submitters
123ZL General obligations
123ZM Obligation to notify Authority of certain matters
123ZN Obligation to maintain proper records
123ZO Obligation to submit periodic reports
123ZP Notification of change of particulars
123ZQ Records of authorised benchmark submitters, exempt benchmark submitters and designated benchmark submitters
123ZR Obligation to assist Authority
123ZS Penalties under this Subdivision
Subdivision 5 Matters requiring approval of Authority
123ZT Approval of chief executive officer and director of authorised benchmark submitter or designated benchmark submitter
123ZU Removal of officer of authorised benchmark submitter or designated benchmark submitter
123ZV Control of take-over of authorised benchmark submitter or designated benchmark submitter
123ZW Objection to control of authorised benchmark submitter or designated benchmark submitter
123ZX Appeals
Division 4 — Information Gathering Powers over Financial Benchmarks, Disclosure of Information and Record Keeping
123ZY Provision of information to Authority
123ZZ Power to require maintenance of records and submit periodic reports
Division 5 — General Powers
123ZZA Power of Authority to make regulations
123ZZB Power of Authority to issue written directions
123ZZC Power of Authority to make prohibition orders
123ZZD Effect of prohibition orders
123ZZE Variation or revocation of prohibition orders
123ZZF Date and effect of prohibition orders
Part VIA REPORTING OF DERIVATIVES CONTRACTS
124 Interpretation of this Part
125 Reporting of specified derivatives contracts
126 Power of Authority to obtain information
127 Directions on alternative reporting arrangements
128 Compliance with laws and practices of relevant reporting jurisdiction
129 Power of Authority to make regulations
129A Exemption from section 125
Part VIB CLEARING OF DERIVATIVES CONTRACTS
129B Interpretation of this Part
129C Clearing of specified derivatives contracts
129D Power of Authority to obtain information
129E Directions on alternative clearing arrangements
129F Compliance with laws and practices of relevant clearing jurisdiction
129G Power of Authority to make regulations
129H Exemption from section 129C
Part VIC TRADING OF DERIVATIVES CONTRACTS
129I Interpretation of this Part
129J Trading of specified derivatives contracts
129K Power of Authority to obtain information
129L Directions on alternative trading arrangements
129M Compliance with laws and practices of relevant trading jurisdiction
129N Power of Authority to make regulations
129O Exemption from section 129J
Part VII DISCLOSURE OF INTERESTS
Division 1 — Disclosure of Interest in Corporation
130 Application and interpretation of this Division
131 Persons obliged to comply with this Division and power of Authority to grant exemption or extension
132 Authority may extend scope of Division in certain circumstances
Subdivision 1 Disclosure by directors and chief executive officer of corporation
133 Duty of director or chief executive officer to notify corporation of his interests
134 Penalties under this Subdivision
Subdivision 2 Disclosure by substantial shareholders in corporation
135 Duty of substantial shareholder to notify corporation of his interests
136 Duty of substantial shareholder to notify corporation of change in interests
137 Duty of person who ceases to be substantial shareholder to notify corporation
137A Beneficial owner to ensure notification by person who holds, acquires or disposes of interests on his behalf
137B Notification by person who holds, acquires or disposes of interests for benefit of another person
137C Corporation to keep register of substantial shareholders
137D Penalties under this Subdivision
137E Powers of court with respect to non-compliance by substantial shareholders
137F Power of corporation to require disclosure of beneficial interest in its voting shares
Subdivision 3 Disclosure by corporation
137G Duty of corporation to make disclosure
Division 2 — Disclosure of Interest in Business Trust and Interest in Trustee-Manager of Business Trust
137H Application and interpretation of this Division
137I Persons obliged to comply with this Division and power of Authority to grant exemption or extension
137IA Authority may extend scope of Division in certain circumstances
Subdivision 1 Disclosure by substantial unitholders of business trust
137J Duty of substantial unitholder to notify trustee-manager of his interests
137K Trustee-manager to keep register of substantial unitholders
137L Powers of court with respect to non-compliance by substantial unitholders
137M Power of trustee-manager to require disclosure of beneficial interest in voting units
Subdivision 2 Disclosure by directors and chief executive officer of trustee-manager of business trust
137N Duty of director and chief executive officer of trustee-manager to notify his interests
137O Penalties under this Subdivision
Subdivision 3 Disclosure by holders of voting shares in trustee-manager
137P Duty of holders of voting shares in trustee-manager to notify trustee-manager
137Q Penalties under this Subdivision
Subdivision 4 Disclosure by trustee-manager
137R Duty of trustee-manager of business trust to make disclosure
Division 3 — Disclosure of Interests in Real Estate Investment Trust and Interests in Shares of Responsible Person
137S Application and interpretation of this Division
137T Persons obliged to comply with Division and power of Authority to grant exemption or extension
137TA Authority may extend scope of Division in certain circumstances
Subdivision 1 Disclosure by substantial unitholders of real estate investment trust
137U Duty of substantial unitholder to notify trustee and responsible person of his interests
137V Trustee to keep register of substantial unitholders
137W Powers of court with respect to non-compliance by substantial unitholders
137X Power of trustee to require disclosure of beneficial interest in voting units
Subdivision 2 Disclosure by directors and chief executive officer of responsible person
137Y Duty of director and chief executive officer of responsible person to notify his interests
137Z Penalties under this Subdivision
Subdivision 3 Disclosure by holders of voting shares in responsible person
137ZA Duty of holders of voting shares in responsible person to notify responsible person
137ZB Penalties under this Subdivision
Subdivision 4 Disclosure by responsible person
137ZC Duty of responsible person for real estate investment trust to make disclosure
Division 4 — Civil Penalty
137ZD Civil penalty
137ZE Action under section 137ZD not to commence, etc., in certain situations
137ZF Jurisdiction of District Court
137ZG Rules of Court
137ZH Interpretation of this Part
137ZI Persons obliged to comply with this Part and power of Authority to grant exemptions or extensions
137ZJ Disclosure of short sell orders
137ZK Reporting of short position
137ZL Power of Authority to publish information
137ZM Power of Authority to make regulations
Part VIII SECURITIES INDUSTRY COUNCIL AND TAKE-OVER OFFERS
138 Securities Industry Council
139 Take-over Code
140 Offences relating to take-over offers
Part IX SUPERVISION AND INVESTIGATION
Division 1 — Supervisory Powers
Subdivision 1 Powers of Authority to require disclosure of information about capital markets products
141 Interpretation of this Subdivision
142 Acquisition and disposal of capital markets products
143 Exercise of certain powers in relation to capital markets products and financial instruments
144 Exercise of certain powers in relation to financial benchmarks
145 Self-incrimination
146 Savings for advocates and solicitors
147 Immunities
148 Offences
149 Copies of or extracts from documents to be admitted in evidence
Subdivision 2 Inspection powers of Authority
150 Inspection by Authority
150A Confidentiality of inspection reports
Subdivision 3 Inspection powers of foreign regulatory authority
150B Inspection by foreign regulatory authority
150C Confidentiality of inspection report by foreign regulatory authority
Division 2 — Power of Minister to Appoint Inspector for Investigating Dealings in Securities, etc.
151 Power of Minister to appoint inspectors
Division 3 — Investigative Powers of Authority
Subdivision 1 General
152 Investigation by Authority
152A Confidentiality of investigation reports
153 Self-incrimination and savings for advocates and solicitors
Subdivision 2 Examination of persons
154 Requirement to appear for examination
155 Proceedings at examination
156 Requirements made of examinee
157 Examination to take place in private
158 Record of examination
159 Giving copies of record to other persons
160 Copies given subject to conditions
161 Record to accompany report
162 Offences under this Subdivision
Subdivision 3 Powers to obtain information
163 Power of Authority to order production of books
163A Power to enter premises without warrant
164 Warrant to seize books, etc.
165 Powers where books are produced or seized
166 Powers where books not produced
167 Copies of or extracts from books to be admitted in evidence
168 Offences under this Division
Division 4 — Transfer of Evidence
168A Interpretation of this Division
168B Evidence obtained by Authority may be used in criminal investigations and proceedings
168C Evidence obtained in police investigations may be used in civil proceedings
Part X ASSISTANCE TO FOREIGN REGULATORY AUTHORITIES
169 Interpretation of this Part
169A Application of this Part
170 Conditions for provision of assistance
171 Other factors to consider for provision of assistance
172 Assistance that may be rendered
173 Offences under this Part
174 Immunities
Part XI INVESTOR COMPENSATION SCHEME
175 Interpretation of this Part
176 Establishment of fidelity fund
177 Moneys constituting fidelity fund
178 Fund to be kept in separate bank account
179 Payments out of fidelity fund
180 Accounts of fund
181 Fidelity fund to consist of amount of $20 million, etc.
182 Provisions if fund is reduced below minimum amount
183 Levy to meet liabilities
184 Power of approved exchange to make advances to fund
185 Investment of fund
186 Application of fund
187 Claims against fund
188 Notice calling for claims against fund
189 Power of approved exchange to settle claims
190 Power of approved exchange to require production of evidence
191 Subrogation of approved exchange to rights, etc., of claimant upon payment from fund
192 Payment of claims only from fund
193 Provision where fund insufficient to meet claims or where claims exceed total amount payable
194 Power of approved exchange to enter into contracts of insurance
195 Application of insurance moneys
Division 1 — Prohibited Conduct — Capital Markets Products
196 Application of this Division
196A Interpretation of this Division
197 False trading and market rigging transactions
198 Market manipulation in relation to securities and securities-based derivatives contracts
199 False or misleading statements, etc.
200 Fraudulently inducing persons to deal in capital markets products
201 Employment of manipulative and deceptive devices
201A Bucketing
201B Manipulation of price of derivatives contracts and cornering
202 Dissemination of information about illegal transactions
203 Continuous disclosure
204 Penalties under this Division
Division 2 — Prohibited Conduct — Financial Benchmarks
205 Application of this Division
206 Interpretation of this Division
207 Manipulation of financial benchmarks
208 Exception for conduct pursuant to policy requirement
209 False or misleading statements
210 Penalties under this Division
211 (Repealed)
212 (Repealed)
Division 3 — Insider Trading
213 Application of this Division
214 Interpretation of this Division
215 Information generally available
216 Material effect on price or value of securities, securities-based derivatives contracts or CIS units
217 Trading and procuring trading in securities, securities-based derivatives contracts or CIS units
218 Prohibited conduct by connected person in possession of inside information
219 Prohibited conduct by other persons in possession of inside information
220 Not necessary to prove intention to use
221 Penalties under this Division
222 Exception for redemption of units in collective investment scheme
223 Exception for underwriters
224 Exception for purchase pursuant to legal requirement
225 Exception for information communicated pursuant to legal requirement
226 Attribution of knowledge within corporations
227 Attribution of knowledge within partnerships and limited liability partnerships
228 Exception for knowledge of individual’s own intentions or activities
229 Exception for corporations and its officers, etc.
230 Unsolicited transactions by holder of capital markets services licence and representatives
231 Parity of information defences
Division 4 — Civil Liability
232 Civil penalty
233 Action under section 232 not to commence, etc., in certain situations
234 Civil liability
235 Action under section 234 not to commence, etc., in certain situations
236 Civil liability in event of conviction, etc.
Division 5 — Attributed Liability
236A Interpretation of this Division
Subdivision 1 Corporations
236B Liability of corporation when employee or officer commits contravention with consent or connivance of corporation
236C Civil penalty when corporation fails to prevent or detect contravention by employee or officer
236D Civil liability of corporation for contravention by employee or officer
Subdivision 2 Partnerships and limited liability partnerships
236E Liability of partnership and limited liability partnership when partner, etc., commits contravention with consent or connivance
236F Civil penalty when partnership or limited liability partnership fails to prevent or detect contravention by partner, etc.
236G Civil liability of partnership or limited liability partnership for contravention by partner, etc.
Subdivision 3 Officers, partners, etc., of entities
236H Civil penalty against officer of corporation, etc.
236I Civil liability of officer of corporation, etc.
Subdivision 4 General
236J Actions not to commence or stayed in certain situations
236K Civil liability in event of conviction or civil penalty
236L Order for disgorgement against third party
Division 6 — Miscellaneous
237 Jurisdiction of District Court
238 Rules of Court
Part XIII OFFERS OF INVESTMENTS
Division 1 — Securities and Securities-based Derivatives Contracts
Subdivision 1 Interpretation
239 Preliminary provisions
239A Authority may disapply this Division to certain offers
239B Modification of provisions to certain offers
Subdivision 1A Offers of units in and recognition of business trusts
239C Requirement for registration or recognition
239D Power of Authority to recognise business trusts constituted outside Singapore
239E Power of Authority to impose conditions or restrictions
239F Revocation, suspension or withdrawal of recognition
Subdivision 2 Prospectus requirements
240 Requirement for prospectus and profile statement, where relevant
240AA Requirement for product highlights sheet, where relevant
240AB Exemption from requirement for product highlights sheet
240A Debenture issuance programme
241 Lodging supplementary document or replacement document
242 Stop order for prospectus and profile statement
243 Contents of prospectus
244 (Repealed)
245 Retention of over-subscriptions and statement of asset-backing in debenture issues
246 Contents of profile statement
247 Exemption from requirements as to form or content of prospectus or profile statement
248 Exemption for certain governmental and international entities as regards signing of copy of prospectus or profile statement by all directors or equivalent persons
249 Expert’s consent to issue of prospectus or profile statement containing statement by him
249A Consent of issue manager and underwriter to being named in prospectus or profile statement
250 Duration of validity of prospectus and profile statement
251 Restrictions on advertisements, etc.
252 Persons liable on prospectus or profile statement to inform person making offer about certain deficiencies
253 Criminal liability for false or misleading statements
254 Civil liability for false or misleading statements
255 Defences
256 (Repealed)
257 Document containing offer of securities or securities-based derivatives contracts for sale deemed prospectus
258 Application and moneys to be held in trust in separate bank account until allotment
259 Allotment of securities or securities-based derivatives contracts where prospectus indicates application to list on approved exchange
260 Prohibition of allotment unless minimum subscription received
Subdivision 3 Debentures
261 Preliminary provisions
262 Offer of asset-backed securities
263 (Repealed)
264 (Repealed)
265 Power of court in relation to certain irredeemable debentures
265A Requirement for trustees
266 Duties of trustees
267 Powers of trustee to apply to court for directions, etc.
267A Right of Authority, approved exchange and holders of debentures to apply to court for order
268 Obligations of borrowing entity
268A Additional obligations of borrowing entity, where debentures are not listed on approved exchange
269 Obligation of guarantor entity to furnish information
270 Loans and deposits to be immediately repayable on certain events
271 Liability of trustees for debenture holders
Subdivision 4 Exemptions
272 Issue or transfer of securities or securities-based derivatives contracts for no consideration
272A Small offers
272B Private placement
273 Offer made under certain circumstances
274 Offer made to institutional investors
275 Offer made to accredited investors and certain other persons
276 Offer of securities acquired pursuant to section 274 or 275
277 Offer made using offer information statement
278 Offer in respect of international debentures
279 Offer of debentures made by Government or international financial institutions
280 Making offer using automated teller machine or electronic means
280A Information relating to certain offers
281 Revocation of exemption
282 Transactions under exempted offers subject to Division 2 of Part XII of Companies Act and Part XII of this Act
Subdivision 5 General
282AA Power of Authority to issue directions
Division 2 — Collective Investment Schemes
Subdivision 1 Interpretation
283 Interpretation of this Division
283A Use of term "real estate investment trust"
284 Code on Collective Investment Schemes
284A Authority may disapply this Division to certain offers and invitations
284B Division not to apply to certain collective investment schemes which are business trusts
284C Modification of provisions to certain offers
Subdivision 2 Authorisation and recognition
285 Requirement for authorisation or recognition
286 Authorised schemes
287 Recognised schemes
288 Revocation, suspension or withdrawal of authorisation or recognition
289 Approval of trustees
290 Inspection of approved trustees
291 Duty of trustees to furnish Authority with such return and information as Authority requires
292 Liability of trustees
292A Disqualification or removal of director or executive officer
292B Information of insolvency, etc.
292C Interpretation of sections 292C to 292H
292D Action by Authority if approved trustee unable to meet obligations, etc.
292E Effect of assumption of control under section 292D
292F Duration of control
292G Responsibilities of officers, member, etc., of approved trustee
292H Remuneration and expenses of Authority and others in certain cases
293 Authority may issue directions
294 Service
295 Winding up
295A Power to acquire units of participants of real estate investment trust in certain circumstances
295B Unclaimed money to be paid to Official Receiver
295C Remedies in cases of oppression or injustice
Subdivision 2A Voluntary transfer of business of approved trustee
295D Interpretation of this Subdivision
295E Voluntary transfer of business
295F Approval of transfer
Subdivision 3 Prospectus requirements
296 Requirement for prospectus and profile statement, where relevant
296A Requirement for product highlights sheet, where relevant
297 Stop order for prospectus and profile statement
298 Lodging supplementary document or replacement document
299 Duration of validity of prospectus and profile statement
300 Restrictions on advertisements, etc.
301 Issue of units where prospectus indicates application to list on approved exchange
302 Application of provisions relating to securities and securities-based derivatives contracts
Subdivision 4 Exemptions
302A Issue or transfer for no consideration
302B Small offers
302C Private placement
303 Offer or invitation made under certain circumstances
304 Offer made to institutional investors
304A First sale of units acquired pursuant to section 304
305 Offer made to accredited investors and certain other persons
305A First sale of units acquired pursuant to section 305
305B Offer made using offer information statement
305C Making offer using automated teller machine or electronic means
306 Power of Authority to exempt
307 Revocation of exemption
308 Transactions under exempted offers subject to Division 2 of Part XII of Companies Act and Part XII of this Act
Division 3 — Hawking of Securities, Securities-based Derivatives Contracts and Units in Collective Investment Scheme
309 Securities hawking prohibited
Division 4 — Capital Markets Products
309A Interpretation of this Division
309B Obligation of issuer to determine, and to notify approved exchange and relevant person of, classification of capital markets products
309C Use of term "capital protected" or "principal protected"
309D Use of term "product highlights sheet"
310 Appeals to Minister
311 Appeal Advisory Committees
312 Disclosure of information
313 Regulations for purposes of this Part
314 (Repealed)
315 (Repealed)
316 Opportunity to be heard
317 Records
318 Size, durability and legibility of records delivered to Authority
318A Translation of instruments
319 Supply of magnetic tapes — exclusion of liability for errors or omissions
320 Appointment of assistants
321 Codes, guidelines, etc., by Authority
322 Power of Authority to publish information
323 (Repealed)
324 Power of court to prohibit payment or transfer of moneys, capital markets products, etc.
325 Power of court to make certain orders
326 Injunctions
327 Criminal jurisdiction of District Court
328 Falsification of records by officer, employee or agent of relevant person
329 Duty not to furnish false information to Authority
330 Duty not to furnish false statements to approved exchange, licensed trade repository, approved clearing house, recognised clearing house, authorised benchmark administrator, exempt benchmark administrator and Securities Industry Council
331 Corporate offenders and unincorporated associations
332 Offences by officers
333 Penalties for corporations
334 Power of Authority to reprimand for misconduct
335 General penalty
336 Proceedings with consent of Public Prosecutor and power to compound offences
337 Exemption
338 Power to make regulations giving effect to treaty, etc.
339 Extra-territoriality of Act
340 Amendment of Schedules
341 Regulations
342 (Repealed)
SECOND SCHEDULE Regulated Activities
THIRD SCHEDULE Specified Persons