No. S 322
Trustees Act
(Chapter 337)
Trustees Act (Amendment of First Schedule) Order 1999
In exercise of the powers conferred by section 4(4) of the Trustees Act, the Minister for Law hereby makes the following Order:
Citation and commencement
1.  This Order may be cited as the Trustees Act (Amendment of First Schedule) Order 1999 and shall come into operation on 16th July 1999.
Amendment of First Schedule
2.  The First Schedule to the Trustees Act is amended —
(a)by deleting Part III and substituting the following Part:
Part III
In any fixed income securities of —
(a)a government outside Singapore; or
(b)an entity owned or controlled by 2 or more governments (which may include the Government), irrespective of whether such ownership or control is shared with any other non-governmental entity,
having a Triple A credit rating or equivalent given by one of the following credit rating agencies:
(i)Moody’s Investors Service, Inc., USA;
(ii)Standard and Poor’s Corporation, USA,
and to hedge the foreign currency exposure from such investments back into Singapore currency.”; and
(b)by deleting the words "paragraph 1 of" in the 2nd line of paragraph 1 of Part V and substituting the word "in".

Made this 14th day of July 1999.

Permanent Secretary,
Ministry of Law,
[LAW 06/011/029 Vol. 2; AG/LEG/SL/337/97/1 Vol. 1]