Securities Industry Act 1986(No. 15 of 1986)
Table of Contents
Long Title
Enacting Formula
Part I PRELIMINARY
1 Short title and commencement
2 Interpretation
3 Associated person
4 Interest in securities
Part II ADMINISTRATION
Division 1 — General
5 Power of Authority to require production of books by a securities exchange and certain persons
6 Penalties
7 Copies or extracts of books to be admitted in evidence
8 Savings for advocates and solicitors
9 Secrecy of information obtained from books
10 Disclosure to Authority
11 Investigation of certain matters
12 Inspections by Authority
13 Power of court to make certain orders
Division 2 — The Securities Industry Council
14 Securities Industry Council
Part III SECURITIES EXCHANGES
15 Establishment, etc., of stock markets
16 Power of Minister to approve a stock exchange
17 Power of Minister to approve a body corporate as an approved securities organisation
18 Authority to approve amendments to rules
19 Securities exchange to provide assistance to the Authority and disciplinary powers of Authority
20 Power of court to order observance or enforcement of rules or listing rules of a securities exchange
21 Power to issue directions to a securitites exchange
22 Power of Authority to prohibit trading in particular securities
Part IV
Division 1 — Licensing of dealers, investment advisers and their representatives
23 Application of this Division
24 Dealer’s licence
25 Dealer’s representative’s licence
26 Investment adviser’s licence
27 Investment representative’s licence
28 Applications for licence or renewal
29 Grant of dealer’s licence or investment adviser’s licence
30 Grant of representative’s licence
31 False statements
32 Power of the Authority to enquire into share transactions in relation to the holding of a licence
33 Power of Authority to impose conditions or restrictions
34 Deposit to be lodged in respect of dealer’s licence
35 Period of licence
36 Notification of change of particulars
37 Register of licence holders
38 Revocation of and suspension of licences
39 Appeals
Division 2 — Exempt dealers
40 Exempt dealers
Part V REGISTERS OF INTERESTS IN SECURITIES
41 Application of this Part
42 Register of securities
43 Notice of particulars to Authority
44 Defence to prosecution
45 Production of register
46 Particulars of financial journalists
47 Extract of register
Part VI CONDUCT OF SECURITIES BUSINESS
48 Certain representations prohibited
49 Issues of contract notes
50 Certain persons to disclose certain interests in securities
51 Recommendations by adviser
52 Dealings as principal
53 Dealings by employees of holders of licences
54 Dealer to give priority to clients’ orders
55 Margin requirements
Part VII
Division 1 — Accounts — Dealer
56 Application of this Division
57 Accounts to be kept by dealers
58 Certain moneys received by dealers to be paid into a trust account
59 Purposes for which money may be withdrawn from trust account
60 Moneys in trust accounts not available for payment of debts, etc
61 Claims and liens not affected
Division 2 — Accounts — Investment Adviser
62 Application of this Division
63 Accounts to be kept by investment adviser
64 Client’s money
65 Operation of trust account
66 Rights to copies of book entries of transactions and to inspect contract notes related thereto
67 Duty to furnish Authority with such returns and information as Authority requires
Division 3 — Audit
68 Application of this Division
69 Appointment of auditor
70 Duties of auditor
71 Penalty for destroying, concealing or altering records or sending records or other property out of Singapore
72 Safeguarding of records
73 Right of committee to impose obligations, etc., on member companies not affected by this Part
Part VIII FIDELITY FUNDS
74 Interpretation
75 Establishment of fidelity funds
76 Moneys constituting fidelity fund
77 Fund to be kept in separate bank account
78 Payments out of fidelity fund
79 Accounts of fund
80 Management sub-committee
81 Fidelity fund to consist of an amount of $5 million
82 Provisions if fund is reduced below $5 million
83 Levy to meet liabilities
84 Power of securities exchange to make advances to fund
85 Investment of fund
86 Application of fund
87 Claims against fund
88 Notice calling for claims against fund
89 Power of committee to settle claims
90 Form of order of Court establishing claim
91 Power of committee to require production of securities, etc
92 Subrogation of securities exchange to rights, etc., of claimant upon payment from fund
93 Payment of claims only from fund
94 Provision where fund insufficient to meet claims or where claims exceed total amount payable
95 Power of committee to enter into contracts of insurance
96 Application of insurance moneys
Part IX TRADING IN SECURITIES
97 False trading and market rigging transactions
98 Stock market manipulation
99 False or misleading statements, etc
100 Fraudulently inducing persons to deal in securities
101 Dissemination of information about illegal transactions
102 Employment of manipulative and deceptive devices
103 Prohibition of dealings in securities by insiders
104 Penalties
105 Convicted persons liable to pay compensation
Part X MISCELLANEOUS
106 Restrictions on use of title "stockbroker" or "securities exchange"
107 Offences by directors or managers, etc
108 Falsification of records by directors, employees and agents
109 False reports to Authority or securities exchange
110 Immunity of Authority and its employees, etc
111 Offences by body corporate
112 Power to appoint an inspector, committee of a securities exchange or the Securities Industry Council to investigate trading in securities
113 Power of Court to prohibit payment or transfer of moneys, securities or other property
114 Injunctions
115 Power of Court to punish for contempt of Court
116 General penalty
117 Proceedings by whom to be taken and power to compound offences
118 Regulations
119 Repeal of the Securities Industry Act 1973 and section 158 of the Companies Act