Securities and Futures (Licensing and Conduct of Business) Regulations 2002

No. S 457

Securities and Futures Act 2001

(Act 42 of 2001)

Securities and Futures (Licensing and Conduct of Business) Regulations 2002

In exercise of the powers conferred by sections 2 (1), 84, 85, 87, 90, 91, 93 to 97, 99, 100, 102, 104, 118, 120, 123, 128, 337, 339(3) and 341 of the Securities and Futures Act 2001, the Monetary Authority of Singapore hereby makes the following Regulations:

PART I

PRELIMINARY

Citation and commencement

1.—(1) These Regulations may be cited as the Securities and Futures (Licensing and Conduct of Business) Regulations 2002 and shall, with the exception of regulation 54, come into operation on 1st October 2002.

(2) Regulation 54 shall come into operation on 1st April 2003.

Definitions

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

“advertisement” means a dissemination or conveyance of information, or an invitation or solicitation, by any means or in any form, including by means of —

(a)	publication in a newspaper, magazine, journal or other periodical;
(b)	display of posters or notices;
(c)	circulars, handbills, brochures, pamphlets, books or other documents;
(d)	letters addressed to individuals or bodies;
(e)	photographs or cinematograph films; or
(f)	sound broadcasting, television, the Internet or other media;

“bond” includes —

(a)	any note, bond or Treasury Bill;
(b)	an option in respect of any note, bond or Treasury Bill; and
(c)	such other securities or class of securities as the Authority may from time to time, by a guideline issued by the Authority, determine;

“electronic record” has the same meaning as in section 2 of the Electronic Transactions Act (Cap. 88);

[S 543/2003 wef 22/12/2003]

“Government securities” means securities issued or proposed to be issued by the Government, and includes —

(a)	any debenture, stock or bond issued or proposed to be issued by the Government;
(b)	any right or option in respect of any debenture, stock or bond referred to in paragraph (a);
(c)	book-entry Government securities as defined in section 2 of the Development Loan (1987) Act (Cap. 81A) or section 2 of the Government Securities Act (Cap. 121A); and
(d)	book-entry Treasury Bills as defined in section 2 of the Local Treasury Bills Act (Cap. 167);

“guideline issued by the Authority” means a guideline issued by the Authority under section 321 of the Act;

“position” means a futures contract or a leveraged foreign exchange transaction which is still outstanding, and which has not been liquidated —

(a)	against any transaction for purposes of set-off;
(b)	by delivery of the commodity underlying the futures contract or leveraged foreign exchange transaction;
(c)	by settlement of the futures contract or leveraged foreign exchange transaction in accordance with the rules of a futures exchange or a clearing house or the practices of a futures market, a foreign exchange market or a recognised trading system provider, as the case may be;
(d)	in the case of a futures contract, by substituting the futures contract with cash commodity; or
(e)	in the case of a leveraged foreign exchange transaction, by substituting the leveraged foreign exchange transaction for a futures contract;

“quarter”, in relation to a calendar year, means a period of 3 months ending on the last day of March, June, September or December in that calendar year;

“Rules and Market Practices” means the Rules and Market Practices (including any amendment and modification thereto) of the Singapore Government Securities Market as promulgated from time to time by the Singapore Government Securities Market Committee of the Singapore Government Securities Market.

Made this 11th day of September 2002.

KOH YONG GUAN

Managing Director,
Monetary Authority of
Singapore.

[FSG SID 013/2002; AG/LEG/SL/288A/2001/1 Vol. 4]

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