SECOND SCHEDULE
Regulation 2(1)
Prescribed qualifying structured
commodity financing activities
1.  The following activities which relate to structured commodity financing:
(a)prepayment;
(b)factoring;
(c)forfaiting;
(d)countertrade;
(e)warehouse receipt financing;
(f)export receivable financing;
(g)project finance;
(h)Islamic trade finance which is —
(i)endorsed by any Shari’ah council or body, or by any committee formed for the purpose of providing guidance on compliance with Shari’ah law; and
(ii)structured in accordance with Murabaha, Musharaka, Istisna or Salam;
(i)streaming financing;
(j)subject to paragraph 2, transacting in derivatives (for example, futures, options or swaps) to hedge against the risks relating to any of the activities mentioned in sub-paragraphs (a) to (i);
(k)advisory services in relation to any of the activities mentioned in sub-paragraphs (a) to (i).
2.  For the purposes of qualifying as a prescribed qualifying structured commodity financing activity under paragraph 1(j), an approved global trading company’s transaction in derivatives must be carried out to hedge against its own risks relating to any of the activities mentioned in paragraph 1(a) to (i).
3.  To avoid doubt, to qualify as a prescribed qualifying structured commodity financing activity under paragraph 1(k), an approved global trading company is not required to perform any of the activities mentioned in paragraph 1(a) to (i) relating to the advisory services it provides.
[S 852/2021 wef 08/11/2021]