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No. S 292

Securities Industry Act

(Chapter 289)

Exempt Dealers (Merchant Banks) Notification 1998

It is hereby notified for general information that, the Monetary Authority of Singapore has decided, with effect from 15th May 1998, that, for the purposes of section 40(d)(v) of the Act, a merchant bank shall be an exempt dealer in respect of dealings in securities carried out by it for its own proprietary account —

(a)	with a bank licensed under the Banking Act (Cap.19);
(b)	with a bank licensed under the laws of a jurisdiction outside Singapore to conduct banking business; except that the securities dealt with must not be listed or quoted on the Stock Exchange of Singapore Limited; or
(c)	with a corporation or firm which is licensed or registered to carry on the business of dealing in securities under the laws of a jurisdiction outside Singapore; except that the securities dealt with must not be listed or quoted on the Stock Exchange of Singapore Limited.

Dated this 27th day of April 1998.

KOH YONG GUAN

Managing Director,
Monetary Authority of Singapore.

[FSG MB 038; AG/LEG/SL/289/98/1 Vol. 1]