Securities and Futures (Prescribed Securities) Regulations 2012

Status:

Published in Subsidiary Legislation Supplement
on 02 May 2012

No. S 177

Securities and Futures Act

(CHAPTER 289)

Securities and Futures
(Prescribed Securities)
Regulations 2012

In exercise of the powers conferred by sections 2(1), 196A, 214, 239(1) and 341 of the Securities and Futures Act, the Monetary Authority of Singapore hereby makes the following Regulations:

Citation and commencement

1. These Regulations may be cited as the Securities and Futures (Prescribed Securities) Regulations 2012 and shall come into operation on 4th June 2012.

Definitions

2. In these Regulations, unless the context otherwise requires —

“debentures of a real estate investment trust” means any debenture stock, bond, note and any other debt securities of a real estate investment trust issued or proposed to be issued by a trustee on behalf of the real estate investment trust;

“real estate investment trust” means a trust —

(a)

that invests primarily in real estate and real estate-related assets specified by the Authority in the Code on Collective Investment Schemes;

(b)

all or any units of which are listed for quotation on a securities exchange; and

(c)

which is —

(i)	authorised under section 286 of the Act or is one for which an application for authorisation has been made and has not been refused by the Authority under that section; or
(ii)	recognised under section 287 of the Act or is one for which an application for recognition has been made and has not been refused by the Authority under that section.

Prescribed securities

3.—(1) For the purposes of —

(a)	paragraph (h) of the definition of “securities” in section 2(1) of the Act; and
(b)	paragraph (c)(viii) of the definition of “securities” in section 214 of the Act,

the following products are prescribed as securities:

(i)

any debentures of a real estate investment trust;

(ii)

any right, option or derivative in respect of any debentures of a real estate investment trust;

(iii)

any right under a contract for differences or under any other contract the purpose or pretended purpose of which is to secure a profit or avoid a loss by reference to fluctuations in the value or price of any debentures of a real estate investment trust, any group of such debentures of a real estate investment trust or any index of such debentures of a real estate investment trust;

(iv)

any right, option or derivative in respect of an index of —

(A)	debentures or stocks issued or proposed to be issued by a government; or
(B)	debentures, stocks or shares issued or proposed to be issued by a corporation or body unincorporate,

being a right, option or derivative which is listed for quotation or quoted on a market operated by an approved exchange or by a recognised market operator.

(2) For the purposes of —

(a)	paragraph (a)(iv) of the definition of “securities” in section 196A of the Act; and
(b)	paragraph (a)(v) of the definition of “securities” in section 214 of the Act,

any right, option or derivative in respect of an index of any debentures, stocks or shares issued or proposed to be issued by a corporation, being a right, option or derivative which is listed for quotation or quoted on a market operated by an approved exchange or by a recognised market operator is prescribed as securities.

(3) For the purposes of paragraph (d) of the definition of “securities” in section 239(1) of the Act, the following products are prescribed as securities:

(a)	any debentures of a real estate investment trust;
(b)	any right, option or derivative in respect of any debentures of a real estate investment trust;
(c)	any right under a contract for differences or under any other contract the purpose or pretended purpose of which is to secure a profit or avoid a loss by reference to fluctuations in the value or price of any debentures of a real estate investment trust, any group of such debentures of a real estate investment trust or any index of such debentures of a real estate investment trust.

Revocation

4. The Securities and Futures (Prescribed Securities) Regulations 2009 (G.N. No. S 160/2009) are revoked.

Made this 30th day of April 2012.

RAVI MENON

Managing Director,
Monetary Authority of Singapore.

[CMD/MCP/02/2006; AG/LLRD/SL/289/2010/16 Vol. 1]

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