Securities Industry Bill
Table of Contents
Long Title
Enacting Formula
Part I PRELIMINARY
1 Short title and commencement
2 Interpretation
Part II STOCK EXCHANGES
3 Establishment, etc., of stock markets
4 Power of Minister to approve a stock exchange
5 Minister to be notified of amendments to rules
Part III LICENCES
6 Application of this Part
7 Dealer’s licence
8 Dealer’s representative’s licence
9 Applications for licence or renewal
10 Registrar to grant or renew dealer’s licence in certain circumstances
11 Registrar to grant or renew representative’s licence in certain circumstances
12 Power of Registrar to impose conditions or restrictions
13 Security to be lodged in respect of dealer’s licence
14 Period of licence
15 Power of court to cancel licence, etc
16 Appeal
Part IV ACCOUNTS AND AUDIT
17 Application of this Part
18 Accounts to be kept by dealers
19 Certain moneys received by dealers to be paid into a trust account
20 Purposes for which money may be withdrawn from trust account
21 Moneys in trust accounts not available for payment of debts, etc
22 Claims and liens not affected
23 Dealer to appoint auditor
24 Dealer to lodge auditor’s report
25 Auditor to send report to relevant authority in certain cases
26 Report of auditor to be forwarded to Minister in certain cases
27 Power of Minister to appoint independent auditor
28 Power of Minister to appoint independent auditor upon application of client
29 Auditor to report to Minister
30 Powers of auditors
31 Prohibition against communication of certain matters by auditor and employees
32 Books, accounts and records to be produced upon demand
33 Penalty for destroying, concealing or altering records or sending records or other property out of Singapore
34 Right of committee to impose obligations, etc., on members not affected by this Part
Part V INVESTMENT OF STOCK BROKER’S TRUST FUNDS
35 Interpretation
36 Certain moneys to be deposited with stock exchange
37 Certain moneys to be held by stock exchange on trust
38 Deposits to be invested by stock exchange
39 As to deposits repaid
40 Accounts of deposits
41 Claims, etc., not affected by this Part
Part VI FIDELITY FUNDS
42 Interpretation
43 Establishment of fidelity funds
44 Moneys constituting fidelity fund
45 Fund to be kept in separate bank account
46 Payments out of fund
47 Accounts of fund
48 Management sub-committee
49 Contributions to fund
50 Provisions if fund exceeds one million dollars
51 Levy in addition to annual contributions
52 Power of stock exchange to make advances to fund
53 Investment of fund
54 Application of fund
55 As to claims against fund
56 Rights of innocent partner in relation to fund
57 Notice calling for claims against fund
58 Power of committee to settle claims
59 Form of order of Court establishing claim
60 Power of committee to require production of securities, etc
61 Subrogation of stock exchange to rights, etc., of claimant upon payment from fund
62 Payment of claims only from fund
63 Provision where fund insufficient to meet claims or where claims exceed total amount payable
64 Power of committee to enter into contracts of insurance
65 Application of insurance moneys
Part VII TRADING IN SECURITIES
66 False trading and markets
67 Market rigging transactions
68 Affecting market price by fictions
69 False or misleading statements about marketable securities
70 Offences and penalty
Part VIII GENERAL
71 Restrictions on use of title "stock broker"
72 General penalty
73 Convicted persons liable to pay compensation
74 Proceedings by whom and when to be taken
75 Regulations
Explanatory Statement
Expenditure of Public Money