Securities and Futures (Markets) Regulations 2005

No. S 367

Securities and Futures Act

(Chapter 289)

Securities and Futures (Markets) Regulations 2005

In exercise of the powers conferred by sections 7 (2), 9, 10(1), 11(2) and (3), 14(1) and (3), 17(1), 19, 21(2), 23(1) and (2), 28(3) and (4), 38, 40, 44(2), 45, 186(10) and (11) and 341 of the Securities and Futures Act, the Monetary Authority of Singapore hereby makes the following Regulations:

PART I

PRELIMINARY

Citation and commencement

1. These Regulations may be cited as the Securities and Futures (Markets) Regulations 2005 and shall come into operation on 1st July 2005.

Definitions

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

“annual report” means the audited profit and loss accounts, audited balance-sheet and auditors’ report, by whatever name called, of an approved exchange or a recognised market operator;

“position”, in relation to a futures contract, means a futures contract which is outstanding and which has not been liquidated —

(a)	by an off-setting transaction;
(b)	by delivery of the commodity underlying the futures contract;
(c)	through settlement of the futures contract in accordance with the business rules or practices of a futures market, as the case may be; or
(d)	by substituting the futures contract for a cash commodity.

Forms

3.—(1) The forms to be used for the purposes of Part II of the Act and these Regulations are those set out at the Authority’s Internet website at http://www.mas.gov.sg (under “Legislation and Notices”, “Securities and Futures”), and any reference in these Regulations to a numbered form shall be construed as a reference to the current version of the form bearing the corresponding number which is displayed at that website.

(2) Any document required to be lodged with the Authority under any provision of Part II of the Act or these Regulations shall be lodged in the relevant form and in the manner specified in the website referred to in paragraph (1), or in such other manner as the Authority may specify from time to time.

(3) All forms used for the purposes of Part II of the Act and these Regulations shall be completed in the English language and in accordance with such directions as may be specified in the form or by the Authority.

(4) The Authority may refuse to accept any form if —

(a)	it is not completed in accordance with this regulation; or
(b)	it is not accompanied by the relevant fee referred to in regulation 4.

(5) Where strict compliance with any form is not possible, the Authority may allow for the necessary modifications to be made to that form, or for the requirements of that form to be complied with in such other manner as the Authority thinks fit.

Fees

4.—(1) The fees specified in the First Schedule shall be payable to the Authority for the purposes specified therein and, subject to section 10(2) of the Act, shall not be refundable.

(2) Payment of fees may be made through such electronic funds transfer system as the Authority may designate from time to time, whereby payment may be effected by directing the transfer of funds electronically from the bank account of the payer to a bank account designated by the Authority.

Keeping of books and other information

5. Every approved exchange, recognised market operator or exempt market operator shall ensure that all relevant books and other information as may be required by the Authority for the purposes of the Act are kept for a minimum of 5 years.

[S 61/2007 wef 01/03/2007]

Made this 8th day of June 2005.

HENG SWEE KEAT

Managing Director,
Monetary Authority of Singapore.

[SFD-MCH 028/2001 Pt 1 Vol. 4; AG/LEG/SL/289/2005/5 Vol. 1]

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