Monetary Authority of Singapore (Control and Resolution of Financial Institutions) (Amendment) Regulations 2013

Status:

Published in Subsidiary Legislation Supplement
on 25 Jul 2013

No. S 465

Monetary Authority of Singapore Act

(CHAPTER 186)

Monetary Authority of Singapore
(Control and Resolution of
Financial Institutions)
(Amendment) Regulations 2013

In exercise of the powers conferred by sections 30AAJ and 30AAZN of the Monetary Authority of Singapore Act, the Monetary Authority of Singapore hereby makes the following Regulations:

Citation and commencement

1. These Regulations may be cited as the Monetary Authority of Singapore (Control and Resolution of Financial Institutions) (Amendment) Regulations 2013 and shall come into operation on 2nd August 2013.

Amendment of regulation 2

2. Regulation 2 of the Monetary Authority of Singapore (Control and Resolution of Financial Institutions) Regulations 2013 (G.N. No. S 235/2013) (referred to in these Regulations as the principal Regulations) is amended —

(a)

by deleting the word “or” at the end of paragraph (c) of the definition of “12% controller”;

(b)

by inserting, immediately after paragraph (c) of the definition of “12% controller”, the following paragraphs:

“(ca)	in relation to a licensed trade repository under the Securities and Futures Act, has the same meaning as in section 46U(3) of that Act;
(cb)	in relation to an approved clearing house under the Securities and Futures Act, has the same meaning as in section 70(3) of that Act; or”;

(c)

by inserting, immediately after paragraph (c) of the definition of “20% controller”, the following paragraphs:

“(ca)	in relation to a licensed trade repository under the Securities and Futures Act, has the same meaning as in section 46U(3) of that Act;
(cb)	in relation to an approved clearing house under the Securities and Futures Act, has the same meaning as in section 70(3) of that Act;”; and

(d)

by inserting, immediately after the words “an approved exchange” in paragraph (c) of the definition of “substantial shareholder”, the words “, a licensed trade repository, an approved clearing house”.

Amendment of regulation 8

3. Regulation 8 of the principal Regulations is amended by inserting, immediately after the words “a recognised market operator,” in paragraph (f), the words “a licensed trade repository, a licensed foreign trade repository, an approved clearing house, a recognised clearing house,”.

Amendment of First Schedule

4. Item 6 of the First Schedule to the principal Regulations is amended by inserting, immediately after the words “a recognised market operator,” in the first column, the words “a licensed trade repository, a licensed foreign trade repository, an approved clearing house, a recognised clearing house,”.

Amendment of Second Schedule

5. The Second Schedule to the principal Regulations is amended by inserting, immediately after item 6, the following items:

“

6A.

A licensed trade repository or a licensed foreign trade repository under the Securities and Futures Act

Section 44ZIB(2) of the Securities and Futures Act

6B.

An approved clearing house or a recognised clearing house under the Securities and Futures Act

Section 81SAA(2) of the Securities and Futures Act

”.

Amendment of Third Schedule

6. The Third Schedule to the principal Regulations is amended by inserting, immediately after item 6, the following items:

“

6A.

A licensed trade repository under the Securities and Futures Act

Any substantial shareholder, 12% controller or 20% controller of the licensed trade repository

6B.

An approved clearing house under the Securities and Futures Act

Any substantial shareholder, 12% controller or 20% controller of the approved clearing house

”.

Amendment of Fourth Schedule

7. The Fourth Schedule to the principal Regulations is amended by inserting, immediately after item 6, the following items:

“

6A.

A licensed trade repository under the Securities and Futures Act

Section 46U(1) and (2) of the Securities and Futures Act

6B.

An approved clearing house under the Securities and Futures Act

Section 70(1) and (2) of the Securities and Futures Act

”.

Made this 23rd day of July 2013.

RAVI MENON

Managing Director,
Monetary Authority of Singapore.

[GCO 017/2012; AG/LLRD/SL/186/2010/9 Vol. 1]

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