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Securities Industry Act

(Chapter 289, Section 40(d)(v))

Securities Industry (Exempt Dealers) Notification

N 2

REVISED EDITION 1990

(25th March 1992)

[13th February 1987]

Citation

1. This Notification may be cited as the Securities Industry (Exempt Dealers) Notification.

Exempt dealers

2.—(1) For the purpose of section 40 (d)(v) of the Securities Industry Act, a merchant bank that is approved as a financial institution under section 28 of the Monetary Authority of Singapore Act [Cap. 186] is an exempt dealer —

(a)	if the main business carried on by the merchant bank is a business other than the dealing in securities; and
(b)	if the dealing is by way of dealing in Stock Exchange of Singapore Dealing and Automated Quotation (SESDAQ) securities provided the merchant bank is an Associate of SESDAQ.

(2) In paragraph (1) —

“Associate of SESDAQ” means an institution that is approved as such in accordance with clause 3 of By-law VIII of the Rules and By-laws of the Stock Exchange of Singapore Ltd; and

“SESDAQ securities” means securities which have been admitted to the Official List for SESDAQ securities.