Trust Companies Act 2005 |
Trust Companies (Exemption) Regulations 2005 |
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Citation and commencement |
1. These Regulations may be cited as the Trust Companies (Exemption) Regulations 2005 and shall come into operation on 1st February 2006. |
Definitions |
2. In these Regulations, unless the context otherwise requires —
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Forms |
Exemption |
4.—(1) For the purposes of section 15(1)(d) of the Act, the following persons shall be exempt from the requirement to hold a trust business licence in respect of the carrying on of trust business:
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Requirements for exempt persons |
5.—(1) Sections 40 to 46, 61 and 62 of the Act and regulation 16 of the Trust Companies Regulations 2005 (G.N. No. S 836/2005) shall apply, with the necessary modifications, to the exempt persons referred to in section 15 of the Act and in regulation 4.
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Made this 14th day of December 2005.
Managing Director, Monetary Authority of Singapore. |
[MCD/MCP/01/2004; AG/LEG/SL/336/2005/1 Vol. 2] |