Futures Trading (Amendment) Regulations 2000

No. S 105

Futures Trading Act

Chapter 116

Futures Trading (Amendment) Regulations 2000

In exercise of the powers conferred by section 70 of the Futures Trading Act, the Monetary Authority of Singapore hereby makes the following Regulations:

Citation and commencement

1. These Regulations may be cited as the Futures Trading (Amendment) Regulations 2000 and shall come into operation on 6th March 2000.

Amendment of regulation 2

2. The Futures Trading Regulations (Rg 1) (referred to in these Regulations as the principal Regulations) are amended by renumbering regulation 2 as paragraph (1) of that regulation, and by inserting immediately thereafter the following paragraph:

“(2) Where the name of a body corporate referred to in these Regulations is changed pursuant to the Companies Act (Cap. 50), the change of name shall not affect the identity of that body corporate or the application of the relevant provisions of these Regulations to that body corporate.”.

Amendment of regulation 25

3. Regulation 25 of the principal Regulations is amended by deleting the words “its clearing house” in the 1st line of paragraph (2) and in the 3rd line of paragraph (2)(a) and substituting in each case the words “a clearing house”.

Amendment of regulation 29

4. Regulation 29 of the principal Regulations is amended by deleting the words “its clearing house” in the 2nd and 3rd lines of paragraph (1)(a) and in the 3rd line of paragraph (1)(a)(ii) and substituting in each case the words “a clearing house”.

New regulation 30

5. The principal Regulations are amended by inserting, immediately after regulation 29, the following regulation:

“Amounts to be paid out of fidelity funds

30.—(1) For the purposes of section 49I(2H) of the Act, the prescribed amount shall be the sum of $2 million.

(2) For the purposes of section 49I(2I) of the Act, the prescribed amount shall be the sum of $50,000.”.

Amendment of Second Schedule

6. The Second Schedule to the principal Regulations is amended by deleting item 30 in Form 24 and substituting the following item:

“30. Contingent liabilities

A. Guarantees in favour of SIMEX

B. Guarantees in favour of other exchanges

C. Guarantees in favour of clearing houses

D. Guarantees in favour of others (to specify)

E. Commitments entered into but not booked in Company’s accounts”.

Made this 25th day of February 2000.

KOH YONG GUAN

Managing Director,
Monetary Authority of Singapore.

[FSG SID FC 010/84; AG/LEG/SL/116/98/1 Vol. 1]

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