Securities Industry Bill
Table of Contents
Long Title
Enacting Formula
Part I PRELIMINARY
1 Short title and commencement
2 Interpretation
Part II ADMINISTRATION
3 Consultative or advisory body
4 Registrar may consult advisory body
Part III STOCK EXCHANGES
5 Establishment, etc., of stock markets
6 Power of Minister to approve a stock exchange
7 Registrar to be notified of amendments to rules
Part IV LICENCES
8 Application of this Part
9 Dealer’s licence
10 Dealer’s representative’s licence
11 Investment adviser’s licence
12 Investment representative’s licence
13 Applications for licence or renewal
14 Registrar to grant or renew dealer’s licence in certain circumstances
15 Registrar to grant or renew representative’s licence in certain circumstances
16 False statements
17 Power of Registrar to impose conditions or restrictions
18 Security to be lodged in respect of dealer’s licence
19 Period of licence
20 Change of address
21 Register of licence holders
22 Power of court to cancel licence, etc.
23 Appeal
Part V RECORDS
24 Application of this Part
25 Register of securities
26 Notice of particulars to Registrar
27 Reference to prosecution
28 Production of register
29 Particulars of financial journalists
30 Extract of register
Part VI CONDUCT OF SECURITIES BUSINESS
31 Certain representations prohibited
32 Disclosure of certain interest
33 Dealings as principal
Part VII ACCOUNTS AND AUDIT
34 Application of this Part
35 Accounts to be kept by dealers
36 Certain moneys received by dealers to be paid into a trust account
37 Purposes for which money may be withdrawn from trust account
38 Moneys in trust accounts not available for payment of debts, etc.
39 Claims and liens not affected
40 Dealer to appoint auditor
41 Dealer to lodge auditor’s report
42 Auditor to send report to relevant authority in certain cases
43 Report of auditor to be forwarded to Minister in certain cases
44 Power of Minister to appoint independent auditor, etc.
45 Power of Minister to appoint independent auditor, etc., upon application of client
46 Auditor, etc., to report to Minister
47 Powers of auditor, etc.
48 Prohibition against communication of certain matters by auditor, etc., and employees
49 Books, accounts and records to be produced upon demand
50 Penalty for destroying, concealing or altering records or sending records or other property out of Singapore
51 Right of committee to impose obligations, etc., on members not affected by this Part
Part VIII INVESTMENT OF STOCKBROKER’S TRUST FUNDS
52 Interpretation
53 Certain moneys to be deposited with stock exchange
54 Certain moneys to be held by stock exchange on trust
55 Deposits to be invested by stock exchange
56 As to deposits repaid
57 Accounts of deposits
58 Claims, etc., not affected by this Part
Part IX FIDELITY FUNDS
59 Interpretation
60 Establishment of fidelity funds
61 Moneys constituting fidelity fund
62 Fund to be kept in separate bank account
63 Payments out of fund
64 Accounts of fund
65 Management sub-committee
66 Contributions to fund
67 Provisions if fund exceeds one million dollars
68 Levy in addition to annual contributions
69 Power of stock exchange to make advances to fund
70 Investment of fund
71 Application of fund
72 As to claims against fund
73 Rights of innocent partner in relation to fund
74 Notice calling for claims against fund
75 Power of committee to settle claims
76 Form of order of Court establishing claim
77 Power of committee to require production of securities, etc.
78 Subrogation of stock exchange to rights, etc., of claimant upon payment from fund
79 Payment of claims only from fund
80 Provision where fund insufficient to meet claims or where claims exceed total amount payable
81 Power of committee to enter into contracts of insurance
82 Application of insurance moneys
Part X TRADING IN SECURITIES
83 False trading and markets
84 Market rigging transactions
85 Inducement to purchase or sell securities by dissemination of information
86 Employment of manipulative and deceptive devices
87 Penalty
Part XI GENERAL
88 Restrictions on use of title "stockbroker"
89 Inspection of books and records of licensee and others
90 Court may make certain orders
91 Production and inspection of books where offence suspected
92 General penalty
93 Convicted persons liable to pay compensation
94 Proceedings by whom and when to be taken
95 Regulations
96 Repeal
97 Transitional provision relating to the Stock Exchange of Malaysia and Singapore
Explanatory Statement
Expenditure of Public Money