Securities and Futures Act 2001
An Act relating to the regulation of activities and institutions in the securities and derivatives industry, including leveraged foreign exchange trading, of financial benchmarks and of clearing facilities, and for matters connected therewith.[34/2012; 4/2017]
Data synced
Compiled from an official source version. Later amendments or repeals may not be reflected; the official text prevails. Read the official text ↗
This instrument is too large to display on one page. Each section below links to its full text.
PART 1 — PRELIMINARY
s 1Short titles 2Interpretations 3Associated persons 4Interest in securities, securities‑based derivatives contracts or units in collective investment schemes 4ASpecific classes of investorss 4BApplicationPART 2 — ORGANISED MARKETS
s 5Objectives of this Parts 6Interpretation of this PartDivision 1 — Establishment of Organised Markets
s 7Requirement for approval or recognitions 8Application for approval or recognitions 9Power of Authority to approve exchanges and recognise market operatorss 10General criteria to be taken into account by Authoritys 11Annual fees payable by approved exchange and recognised market operators 12Change in statuss 13Cancellation of approval or recognitions 14Power of Authority to revoke approval and recognitionSubdivision (1) — Obligations of approved exchanges
s 15General obligationss 16Obligation to notify Authority of certain matterss 17Obligation to manage risks prudentlys 18Obligation to maintain proper recordss 19Obligation to submit periodic reportss 20Obligation to assist Authoritys 21Obligation to maintain confidentialitys 22Penalties under this SubdivisionSubdivision (2) — Rules of approved exchanges
s 23Business rules and listing rules of approved exchangess 24Business rules of approved exchanges have effect as contracts 25Power of court to order observance or enforcement of business rules or listing ruless 26Non‑compliance with business rules or listing rules not to substantially affect rights of personSubdivision (3) — Matters requiring approval of Authority
s 27Control of substantial shareholding in approved exchanges 28Approval of chairperson, chief executive officer, director and key personss 29Listing, de‑listing or trading of certain instruments, contracts and transactionss 30Listing of approved exchange on organised markets 31Auditors of approved exchanges — appointment and dutiess 31AAuditors of approved exchanges to report certain matters and irregularities to Authoritys 31BPower of Authority to appoint auditor to examine and audit books of approved exchanges 31CRestriction on auditor’s and employee’s right to communicate certain mattersSubdivision (4) — Immunity
s 32Immunity from criminal or civil liabilityDivision 3 — Regulation of Recognised Market Operators
s 33General obligationss 34Obligation to notify Authority of certain matterss 35Obligation to manage risks prudentlys 36Obligation to maintain proper recordss 37Obligation to submit periodic reportss 38Obligation to assist Authoritys 39Obligation to maintain confidentialitys 40Non‑compliance with business rules or listing rules not to substantially affect rights of persons 41Listing, de‑listing or trading of certain instruments, contracts and transactionss 41AControl of shareholding in Singapore recognised market operators 41BObjection to control of Singapore recognised market operators 41CChairperson, chief executive officer, director and key persons, etc., of Singapore recognised market operators 42Penalties under this DivisionDivision 4 — General Powers of Authority
s 43Disqualification or removal of director or executive officers 44Power of Authority to make regulationss 45Power of Authority to issue directionss 46Power of Authority in organised marketPART 2A — TRADE REPOSITORIES
s 46AObjectives of this PartPART 2 — ORGANISED MARKETS
Division 4 — General Powers of Authority
s 46AAEmergency powers of Authoritys 46AAAInterpretation of sections 46AAA to 46AAFs 46AABAction by Authority if approved exchange or recognised market operator unable to meet obligations, etc.s 46AACEffect of assumption of control under section 46AABs 46AADDuration of controls 46AAEResponsibilities of officers, member, etc., of approved exchange or recognised market operators 46AAFRemuneration and expenses of Authority and others in certain casess 46AAGPower of Authority to exempt approved exchange or recognised market operator from provisions of this PartDivision 5 — Voluntary Transfer of Business of Approved Exchange or Recognised Market Operator
s 46AAHInterpretation of this Divisions 46AAIVoluntary transfer of businesss 46AAJApproval of transferPART 2A — TRADE REPOSITORIES
s 46BInterpretation of this PartDivision 1 — Licensing of Trade Repositories
s 46CHolding out as licensed trade repository or licensed foreign trade repositorys 46DApplication for licences 46EPower of Authority to grant trade repository licence or foreign trade repository licences 46FAnnual fees payable by licensed trade repository or licensed foreign trade repositorys 46GCancellation of trade repository licence or foreign trade repository licences 46HPower of Authority to revoke trade repository licence or foreign trade repository licenceSubdivision (1) — Obligations of licensed trade repositories
s 46IGeneral obligationss 46JObligation to manage risks prudentlys 46KObligation to notify Authority of certain matterss 46LObligation to maintain proper recordss 46MObligation to submit periodic reportss 46NObligation to assist Authoritys 46OObligation to maintain confidentialitys 46PPenalties under this SubdivisionSubdivision (2) — Rules of licensed trade repositories
s 46QBusiness rules of licensed trade repositoriess 46RBusiness rules of licensed trade repositories have effect as contracts 46SPower of court to order observance or enforcement of business ruless 46TNon‑compliance with business rules not to substantially affect rights of personSubdivision (3) — Matters requiring approval of Authority
s 46UControl of substantial shareholding in licensed trade repositorys 46VApproval of chairperson, chief executive officer, director and key personsSubdivision (4) — Powers of Authority
s 46XAuditors of licensed trade repositories — appointment and dutiess 46XAAuditors of licensed trade repositories to report certain matters and irregularities to Authoritys 46XBPower of Authority to appoint auditor to examine and audit books of licensed trade repositorys 46XCRestriction on auditor’s and employee’s right to communicate certain matterss 46YEmergency powers of Authoritys 46ZDisqualification or removal of director or executive officerSubdivision (5) — Immunity
s 46ZAImmunity from criminal or civil liabilityDivision 3 — Regulation of Licensed Foreign Trade Repositories
s 46ZBGeneral obligationss 46ZCObligation to manage risks prudentlys 46ZDObligation to notify Authority of certain matterss 46ZEObligation to maintain proper recordss 46ZFObligation to submit periodic reportss 46ZGObligation to assist Authoritys 46ZHObligation to maintain confidentialitys 46ZIPenalties under this DivisionDivision 4 — General Powers of Authority
s 46ZIAInterpretation of sections 46ZIA to 46ZIFs 46ZIBAction by Authority if licensed trade repository unable to meet obligations, etc.s 46ZICEffect of assumption of control under section 46ZIBs 46ZIDDuration of controls 46ZIEResponsibilities of officers, member, etc., of licensed trade repositorys 46ZIFRemuneration and expenses of Authority and others in certain casess 46ZJPower of Authority to make regulationss 46ZKPower of Authority to issue directionss 46ZLPower of Authority to exempt licensed trade repository or licensed foreign trade repository from provisions of this PartDivision 5 — Voluntary Transfer of Business of Licensed Trade Repository or Licensed Foreign Trade Repository
s 46ZMInterpretation of this Divisions 46ZNVoluntary transfer of businesss 46ZOApproval of transferPART 3 — CLEARING FACILITIES
s 47Objectives of this Parts 48Interpretation of this PartDivision 1 — Establishment of Clearing Facilities
s 49Requirement for approval or recognitions 50Application for approval or recognitions 51Power of Authority to approve or recognise clearing houses 52General criteria to be taken into account by Authoritys 53Annual fees payable by approved clearing house or recognised clearing houses 54Change in statuss 55Cancellation of approval or recognitions 56Power of Authority to revoke approval and recognitionSubdivision (1) — Obligations of approved clearing houses
s 57General obligationss 58Obligation to notify Authority of certain matterss 59Obligation to manage risks prudently, etc.s 60Obligation in relation to customers’ money and assets held by approved clearing houses 61Obligation to maintain proper recordss 62Obligation to submit periodic reportss 63Obligation to assist Authoritys 64Obligation to maintain confidentialitys 65Penalties under this SubdivisionSubdivision (2) — Rules of approved clearing houses
s 66Business rules of approved clearing housess 67Business rules of approved clearing houses have effect as contracts 68Power of court to order observance or enforcement of business ruless 69Non‑compliance with business rules not to substantially affect rights of personSubdivision (3) — Matters requiring approval of Authority
s 70Control of substantial shareholding in approved clearing houses 71Approval of chairperson, chief executive officer, director and key personss 72Listing of approved clearing houses on organised markets 73Auditors of approved clearing houses — appointment and dutiess 73AAuditors of approved clearing houses to report certain matters and irregularities to Authoritys 73BPower of Authority to appoint auditor to examine and audit books of approved clearing houses 73CRestriction on auditor’s and employee’s right to communicate certain mattersSubdivision (4) — Immunity
s 74Immunity from criminal or civil liabilityDivision 3 — Regulation of Recognised Clearing Houses
s 75General obligationss 76Obligation to notify Authority of certain matterss 77Obligation in relation to customers’ money and assets held by recognised clearing houses 78Obligation to maintain proper recordss 79Obligation to submit periodic reportss 80Obligation to assist Authoritys 81Obligation to maintain confidentialitys 81APenalties under this Divisions 81AAControl of shareholding in Singapore recognised clearing houses 81ABObjection to control of Singapore recognised clearing houses 81ACChairperson, chief executive officer, director and key persons, etc., of Singapore recognised clearing houseDivision 4 — Insolvency
s 81BApplication of this Divisions 81CProceedings of approved clearing house or recognised clearing house take precedence over law of insolvencys 81DSupplementary provisions as to default proceedingss 81EDuty to report on completion of default proceedingss 81FNet sum payable on completion of default proceedingss 81GDisclaimer of onerous property, rescission of contracts, etc.s 81HAdjustment of prior transactionss 81IRight of relevant office holder to recover certain amounts arising from certain transactionss 81JApplication of market collateral not affected by certain other interest, etc.s 81KEnforcement of judgments over property subject to market charge, etc.s 81LLaw of insolvency in other jurisdictionss 81MParticipant to be party to certain transactions as principals 81NPreservation of rights, etc.s 81OImmunity from criminal or civil liabilityDivision 5 — General Powers of Authority
s 81PDisqualification or removal of director or executive officers 81QPower of Authority to make regulationss 81RPower of Authority to issue directionss 81SEmergency powers of Authoritys 81SAInterpretation of sections 81SA to 81SAEs 81SAAAction by Authority if approved clearing house or recognised clearing house unable to meet obligations, etc.s 81SABEffect of assumption of control under section 81SAAs 81SACDuration of controls 81SADResponsibilities of officers, member, etc., of approved clearing house or recognised clearing houses 81SAERemuneration and expenses of Authority and others in certain casess 81SBPower of Authority to exempt approved clearing house or recognised clearing house from provisions of this PartDivision 6 — Voluntary Transfer of Business of Approved Clearing House or Recognised Clearing House
s 81SCInterpretation of this Divisions 81SDVoluntary transfer of businesss 81SEApproval of transferPART 3AA — CENTRAL DEPOSITORY SYSTEM
s 81SFInterpretation of this Parts 81SGApplication of this Parts 81SHCentral Depository Systems 81SIDepository or nominee deemed to be bare trustees 81SJDepository not member of company and depositors deemed to be memberss 81SKDepository to certify names of depositors to corporation upon requests 81SLMaintenance of accountss 81SMTransfers effected by Depository under book‑entry clearing systems 81SNDepository to be discharged from liability if acting on instructionss 81SOConfirmation of transactions 81SPNo rectification of Depository Registers 81SQTrustee, executor or administrator of deceased depositor named as depositors 81SRNon‑application of certain provisions in bankruptcy and company liquidation laws 81SSSecurity interests 81STDepository rules to be regarded as rules of approved exchange that are subject to this Acts 81SUPower of Authority to make regulationss 81SVPower of Authority to issue written directionsPART 3A — APPROVED HOLDING COMPANIES
s 81TObjectives of this PartDivision 1 — Establishment of Approved Holding Companies
s 81URequirement for approvals 81VApplication for approvals 81WPower of Authority to approve holding companiess 81XAnnual fees payable by approved holding companys 81YCancellation of approvals 81ZPower of Authority to revoke approvalDivision 2 — Regulation of Approved Holding Companies
s 81ZAObligation to notify Authority of certain matterss 81ZBObligation to submit periodic reportss 81ZCObligation to assist Authoritys 81ZDObligation to maintain confidentialitys 81ZEControl of substantial shareholding in approved holding companiess 81ZFApproval of chairperson, chief executive officer, director and key personss 81ZGListing of approved holding companies on organised markets 81ZGAInformation of insolvency, etc.s 81ZGBInterpretation of sections 81ZGB to 81ZGGs 81ZGCAction by Authority if approved holding company unable to meet obligations, etc.s 81ZGDEffect of assumption of control under section 81ZGCs 81ZGEDuration of controls 81ZGFResponsibilities of officers, member, etc., of approved holding companys 81ZGGRemuneration and expenses of Authority and others in certain casess 81ZHAuditors of approved holding companies — appointment and dutiess 81ZHAAuditors of approved holding companies to report certain matters and irregularities to Authoritys 81ZHBPower of Authority to appoint auditor to examine and audit books of approved holding companys 81ZHCRestriction on auditor’s and employee’s right to communicate certain matterss 81ZIPower of Authority to exempt approved holding company from provisions of this Parts 81ZJDisqualification or removal of director or executive officers 81ZKPower of Authority to make regulationss 81ZLPower of Authority to issue directionsDivision 3 — Voluntary Transfer of Business of Approved Holding Company
s 81ZMInterpretation of this Divisions 81ZNVoluntary transfer of businesss 81ZOApproval of transferPART 4 — HOLDERS OF CAPITAL MARKETS SERVICES LICENCE AND REPRESENTATIVES
Division 1 — Capital Markets Services Licence
s 82Need for capital markets services licences 84Application for grant of capital markets services licences 85Licence fees 86Grant of capital markets services licences 88Power of Authority to impose conditions or restrictionss 90Variation of capital markets services licences 91Deposit to be lodged in respect of capital markets services licences 92False statements in relation to application for grant or variation of capital markets services licences 93Notification of change of particularss 94Records of holders of capital markets services licences 95Lapsing, revocation and suspension of capital markets services licences 96Approval of chief executive officer and director of holder of capital markets services licences 97Disqualification or removal of director or executive officers 97AControl of take‑over of holder of capital markets services licences 97BObjection to control of holder of capital markets services licences 97CInformation of insolvency, etc.s 97DInterpretation of sections 97D to 97Is 97EAction by Authority if holder of capital markets services licence unable to meet obligations, etc.s 97FEffect of assumption of control under section 97Es 97GDuration of controls 97HResponsibilities of officers, member, etc., of holder of capital markets services licences 97IRemuneration and expenses of Authority and others in certain casess 98Appealss 99Exemptions from requirement to hold capital markets services licences 99AAnnual fees payable by exempt person and certain representativesDivision 1A — Voluntary Transfer of Business of Holder of Capital Markets Services Licence
s 99AAInterpretation of this Divisions 99ABVoluntary transfer of businesss 99ACApproval of transferDivision 2 — Representatives
s 99BActing as representatives 99CRecords and public register of representativess 99DAppointed representatives 99EProvisional representatives 99FTemporary representatives 99GOffencess 99HLodgment of documentss 99IExemptions 99JRepresentative to act for only one principals 99KLodgment and feess 99LAdditional regulated activitys 99MPower of Authority to refuse entry or revoke or suspend status of appointed, provisional or temporary representatives 99NPower of Authority to impose conditions or restrictionss 99OFalse statements in relation to notification of appointed, provisional or temporary representatives 99PAppealsDivision 3 — General
s 100Power of Authority to make regulationss 101Power of Authority to issue written directionsPART 5 — BOOKS, CUSTOMER ASSETS AND AUDIT
Division 1 — Books
s 102Keeping of books and providing of returnss 103Penalties under this DivisionDivision 2 — Customer Assets
s 103AInterpretation of this Divisions 104Handling of customer assetss 104ANon‑availability of customer money and other assets for payment of debts 105Penalties under this DivisionDivision 3 — Audit
s 106Appointment of auditorss 107Lodgment of annual accounts, etc.s 108Reports by auditor to Authority in certain casess 109Power of Authority to appoint auditors 110Power of auditors appointed by Authoritys 111Offence to destroy, conceal, alter, etc., bookss 112Safeguarding of bookss 113Restriction on auditor’s and employee’s right to communicate certain matterss 114Exchanges, etc., may impose additional obligations on memberss 115Additional powers of Authority in respect of auditorss 116DefamationPART 6 — CONDUCT OF BUSINESS
Division 1 — General
s 123Power of Authority to make regulationsPART 6AA — FINANCIAL BENCHMARKS
s 123AObjectives of this PartDivision 1 — Designation of Financial Benchmarks
s 123BPower of Authority to designate financial benchmarkss 123CWithdrawal of designation of financial benchmarkSubdivision (1) — Authorised benchmark administrator
s 123DRequirement for authorisations 123EApplication for authorisations 123FPower of Authority to authorise benchmark administratorss 123GDeposit to be lodged by corporation or authorised benchmark administrators 123HFalse statements in relation to application for authorisations 123IAnnual fees payable by authorised benchmark administrators 123JRevocation, suspension or withdrawal of authorisationSubdivision (2) — Exempt benchmark administrator
s 123KPower of Authority to exempt corporations from authorisations 123LFalse statements in relation to application for exemptions 123MAnnual fees payable by exempt benchmark administrators 123NPower to revoke exemptionSubdivision (3) — Code on designated benchmark
s 123OCode on designated benchmarkSubdivision (4) — Obligations of authorised benchmark administrators and exempt benchmark administrators
s 123PGeneral obligationss 123QObligation to notify Authority of certain matterss 123RObligation to maintain proper recordss 123SObligation to submit periodic reportss 123TNotification of change of particularss 123URecords of authorised benchmark administrators and exempt benchmark administratorss 123VObligation to assist Authoritys 123WPenalties under this SubdivisionSubdivision (5) — Matters requiring approval of Authority
s 123XApproval of chief executive officer and director of authorised benchmark administrators 123YRemoval of officer of authorised benchmark administrators 123ZControl of take‑over of authorised benchmark administrators 123ZAObjection to control of authorised benchmark administrators 123ZBAppealsSubdivision (1) — Authorised benchmark submitter
s 123ZCRequirement for authorisations 123ZDApplication for authorisations 123ZEPower of Authority to authorise benchmark submitterss 123ZFFalse statements in relation to application for authorisations 123ZGRevocation, suspension or withdrawal of authorisationSubdivision (2) — Exempt benchmark submitter
s 123ZHExemptions from requirement to be authorised as authorised benchmark submitterSubdivision (3) — Designated benchmark submitter
s 123ZIPower of Authority to designate benchmark submitterss 123ZJObligation to provide information for purposes of determining designated benchmarks 123ZKPower of Authority to impose requirements or restrictionsSubdivision (4) — Obligations of authorised benchmark submitters, exempt benchmark submitters and designated benchmark submitters
s 123ZLGeneral obligationss 123ZMObligation to notify Authority of certain matterss 123ZNObligation to maintain proper recordss 123ZOObligation to submit periodic reportss 123ZPNotification of change of particularss 123ZQRecords of authorised benchmark submitters, exempt benchmark submitters and designated benchmark submitterss 123ZRObligation to assist Authoritys 123ZSPenalties under this SubdivisionSubdivision (5) — Matters requiring approval of Authority
s 123ZTApproval of chief executive officer and director of authorised benchmark submitter or designated benchmark submitters 123ZURemoval of officer of authorised benchmark submitter or designated benchmark submitters 123ZVControl of take‑over of authorised benchmark submitter or designated benchmark submitters 123ZWObjection to control of authorised benchmark submitter or designated benchmark submitters 123ZXAppealsDivision 4 — Information Gathering Powers over Financial Benchmarks, Disclosure of Information and Record Keeping
s 123ZYProvision of information to Authoritys 123ZZPower to require maintenance of records and submit periodic reportsDivision 5 — General Powers
s 123ZZAPower of Authority to make regulationss 123ZZBPower of Authority to issue written directionsPART 6A — REPORTING OF DERIVATIVES CONTRACTS
s 124Interpretation of this Parts 125Reporting of specified derivatives contractss 126Power of Authority to obtain informations 127Directions on alternative reporting arrangementss 128Compliance with laws and practices of relevant reporting jurisdictions 129Power of Authority to make regulationss 129AExemption from section 125PART 6B — CLEARING OF DERIVATIVES CONTRACTS
s 129BInterpretation of this Parts 129CClearing of specified derivatives contractss 129DPower of Authority to obtain informations 129EDirections on alternative clearing arrangementss 129FCompliance with laws and practices of relevant clearing jurisdictions 129GPower of Authority to make regulationss 129HExemption from section 129CPART 6C — TRADING OF DERIVATIVES CONTRACTS
s 129IInterpretation of this Parts 129JTrading of specified derivatives contractss 129KPower of Authority to obtain informations 129LDirections on alternative trading arrangementss 129MCompliance with laws and practices of relevant trading jurisdictions 129NPower of Authority to make regulationss 129OExemption from section 129JPART 7 — DISCLOSURE OF INTERESTS
Division 1 — Disclosure of Interest in Corporation
s 130Application and interpretation of this Divisions 131Persons obliged to comply with this Division and power of Authority to grant exemption or extensions 132Authority may extend scope of Division in certain circumstancesSubdivision (1) — Disclosure by directors and chief executive officer of corporation
s 133Duty of director or chief executive officer to notify corporation of his or her interestss 134Penalties under this SubdivisionSubdivision (2) — Disclosure by substantial shareholders in corporation
s 135Duty of substantial shareholder to notify corporation of interestss 136Duty of substantial shareholder to notify corporation of change in interestss 137Duty of person who ceases to be substantial shareholder to notify corporations 137ABeneficial owner to ensure notification by person who holds, acquires or disposes of interests on beneficial owner’s behalfs 137BNotification by person who holds, acquires or disposes of interests for benefit of another persons 137CCorporation to keep register of substantial shareholderss 137DPenalties under this Subdivisions 137EPowers of court with respect to non‑compliance by substantial shareholderss 137FPower of corporation to require disclosure of beneficial interest in its voting sharesSubdivision (3) — Disclosure by corporation
s 137GDuty of corporation to make disclosureDivision 2 — Disclosure of Interest in Business Trust and Interest in Trustee‑Manager of Business Trust
s 137HApplication and interpretation of this Divisions 137IPersons obliged to comply with this Division and power of Authority to grant exemption or extensions 137IAAuthority may extend scope of Division in certain circumstancesSubdivision (1) — Disclosure by substantial unitholders of business trust
s 137JDuty of substantial unitholder to notify trustee‑manager of interestss 137KTrustee‑manager to keep register of substantial unitholderss 137LPowers of court with respect to non‑compliance by substantial unitholderss 137MPower of trustee‑manager to require disclosure of beneficial interest in voting unitsSubdivision (2) — Disclosure by directors and chief executive officer of trustee‑manager of business trust
s 137NDuty of director and chief executive officer of trustee‑manager to notify of interestss 137OPenalties under this SubdivisionSubdivision (3) — Disclosure by holders of voting shares in trustee‑manager
s 137PDuty of holders of voting shares in trustee‑manager to notify trustee‑managers 137QPenalties under this SubdivisionSubdivision (4) — Disclosure by trustee‑manager
s 137RDuty of trustee‑manager of business trust to make disclosureDivision 3 — Disclosure of Interests in Real Estate Investment Trust and Interests in Shares of Responsible Person
s 137SApplication and interpretation of this Divisions 137TPersons obliged to comply with Division and power of Authority to grant exemption or extensions 137TAAuthority may extend scope of Division in certain circumstancesSubdivision (1) — Disclosure by substantial unitholders of real estate investment trust
s 137UDuty of substantial unitholder to notify trustee and responsible person of interestss 137VTrustee to keep register of substantial unitholderss 137WPowers of court with respect to non‑compliance by substantial unitholderss 137XPower of trustee to require disclosure of beneficial interest in voting unitsSubdivision (2) — Disclosure by directors and chief executive officer of responsible person
s 137YDuty of director and chief executive officer of responsible person to notify of interestss 137ZPenalties under this SubdivisionSubdivision (3) — Disclosure by holders of voting shares in responsible person
s 137ZADuty of holders of voting shares in responsible person to notify responsible persons 137ZBPenalties under this SubdivisionSubdivision (4) — Disclosure by responsible person
s 137ZCDuty of responsible person for real estate investment trust to make disclosureDivision 4 — Civil Penalty
s 137ZDCivil penaltys 137ZEAction under section 137ZD not to commence, etc., in certain situationss 137ZFJurisdiction of District Courts 137ZGRules of CourtPART 7A — SHORT SELLING
s 137ZHInterpretation of this Parts 137ZIPersons obliged to comply with this Part and power of Authority to grant exemptions or extensionss 137ZJDisclosure of short sell orderss 137ZKReporting of short positions 137ZLPower of Authority to publish informations 137ZMPower of Authority to make regulationsPART 8 — SECURITIES INDUSTRY COUNCIL AND TAKE‑OVER OFFERS
s 138Securities Industry Councils 139Take‑over Codes 140Offences relating to take‑over offersPART 9 — SUPERVISION AND INVESTIGATION
Subdivision (1) — Powers of Authority to require disclosure of information about capital markets products
s 141Interpretation of this Subdivisions 142Acquisition and disposal of capital markets productss 143Exercise of certain powers in relation to capital markets products and financial instrumentss 144Exercise of certain powers in relation to financial benchmarkss 145Self‑incriminations 146Saving for advocates and solicitorss 147Immunitiess 148Offencess 149Copies of or extracts from documents to be admitted in evidenceSubdivision (2) — Inspection powers of Authority
s 150Inspection by Authoritys 150AConfidentiality of inspection reportsSubdivision (3) — Inspection powers of foreign regulatory authority
s 150BInspection by foreign regulatory authoritys 150CConfidentiality of inspection report by foreign regulatory authorityDivision 2 — Power of Minister to Appoint Inspector for Investigating Dealings in Securities, etc.
s 151Power of Minister to appoint inspectorsSubdivision (1) — Preliminary
s 152Interpretation of this DivisionSubdivision (2) — General
s 153Investigation by Authoritys 154Confidentiality of investigation reportss 155Self-incrimination and saving for advocates and solicitorsSubdivision (3) — Examination of persons
s 156Requirement to appear for examinations 157Proceedings at examinations 158Requirements made of examinees 159Examination to take place in privates 160Record of examinations 161Giving copies of record to other personss 162Copies given subject to conditionsSubdivision (4) — Powers to obtain information
s 163Power of Authority to order production of books, provision of information or giving of access to datas 164Power to enter premises without warrants 165Warrant to seize books, etc.s 166Powers where books are produced, etc.s 167Powers where books not produced, information not provided or access to book or data not givens 168Copies of or extracts from books to be admitted in evidences 168AOffences under this DivisionDivision 4 — Transfer of evidence
s 168BInterpretation of this Divisions 168CEvidence obtained by Authority may be used in criminal investigations and proceedingss 168DEvidence obtained under Criminal Procedure Code 2010 may be used for purposes of ActPART 10 — ASSISTANCE TO FOREIGN REGULATORY AUTHORITIES
s 169Interpretation of this Parts 169AApplication of this Parts 170Conditions for provision of assistances 171Other factors to consider for provision of assistances 172Assistance that may be rendereds 173Offences under this Parts 174ImmunitiesPART 11 — INVESTOR COMPENSATION SCHEME
s 175Interpretation of this Parts 176Establishment of fidelity funds 177Moneys constituting fidelity funds 178Fund to be kept in separate bank accounts 179Payments out of fidelity funds 180Accounts of funds 181Fidelity fund to consist of amount of $20 million, etc.s 182Provisions if fund is reduced below minimum amounts 183Levy to meet liabilitiess 184Power of approved exchange to make advances to funds 185Investment of funds 186Application of funds 187Claims against funds 188Notice calling for claims against funds 189Power of approved exchange to settle claimss 190Power of approved exchange to require production of evidences 191Subrogation of approved exchange to rights, etc., of claimant upon payment from funds 192Payment of claims only from funds 193Provision where fund insufficient to meet claims or where claims exceed total amount payables 194Power of approved exchange to enter into contracts of insurances 195Application of insurance moneysPART 12 — MARKET CONDUCT
Division 1 — Prohibited Conduct — Capital Markets Products
s 196Application of this Divisions 196AInterpretation of this Divisions 197False trading and market rigging transactionss 198Market manipulation in relation to securities and securities‑based derivatives contractss 199False or misleading statements, etc.s 200Fraudulently inducing persons to deal in capital markets productss 201Employment of manipulative and deceptive devicess 201ABucketings 201BManipulation of price of derivatives contracts and cornerings 202Dissemination of information about illegal transactionss 203Continuous disclosures 204Penalties under this DivisionDivision 2 — Prohibited Conduct — Financial Benchmarks
s 205Application of this Divisions 206Interpretation of this Divisions 207Manipulation of financial benchmarkss 208Exception for conduct pursuant to policy requirements 209False or misleading statementss 210Penalties under this DivisionDivision 3 — Insider Trading
s 213Application of this Divisions 214Interpretation of this Divisions 215Information generally availables 216Material effect on price or value of securities, securities‑based derivatives contracts or CIS unitss 217Trading and procuring trading in securities, securities‑based derivatives contracts or CIS unitss 218Prohibited conduct by connected person in possession of inside informations 219Prohibited conduct by other persons in possession of inside informations 220Not necessary to prove intention to uses 221Penalties under this Divisions 222Exception for redemption of units in collective investment schemes 223Exception for underwriterss 224Exception for purchase pursuant to legal requirements 225Exception for information communicated pursuant to legal requirements 226Attribution of knowledge within corporationss 227Attribution of knowledge within partnerships and limited liability partnershipss 228Exception for knowledge of individual’s own intentions or activitiess 229Exception for corporations and its officers, etc.s 230Unsolicited transactions by holder of capital markets services licence and representativess 231Parity of information defencesDivision 4 — Civil Liability
s 232Civil penaltys 233Action under section 232 not to commence, etc., in certain situationss 234Civil liabilitys 235Action under section 234 not to commence, etc., in certain situationss 236Civil liability in event of conviction, etc.Division 5 — Attributed Liability
s 236AInterpretation of this DivisionSubdivision (1) — Corporations
s 236BLiability of corporation when employee or officer commits contravention with consent or connivance of corporations 236CCivil penalty when corporation fails to prevent or detect contravention by employee or officers 236DCivil liability of corporation for contravention by employee or officerSubdivision (2) — Partnerships and limited liability partnerships
s 236ELiability of partnership and limited liability partnership when partner, etc., commits contravention with consent or connivances 236FCivil penalty when partnership or limited liability partnership fails to prevent or detect contravention by partner, etc.s 236GCivil liability of partnership or limited liability partnership for contravention by partner, etc.Subdivision (3) — Officers, partners, etc., of entities
s 236HCivil penalty against officer of corporation, etc.s 236ICivil liability of officer of corporation, etc.Subdivision (4) — General
s 236JActions not to commence or stayed in certain situationss 236KCivil liability in event of conviction or civil penaltys 236LOrder for disgorgement against third partyDivision 6 — Miscellaneous
s 237Jurisdiction of District Courts 238Rules of CourtPART 13 — OFFERS OF INVESTMENTS
Subdivision (1) — Interpretation
s 239Preliminary provisionss 239AAuthority may disapply this Division to certain offerss 239AAOffers of sponsored depositary receiptsPART 13 — OFFERS OF INVESTMENTS
Subdivision (1) — Interpretation
s 239BModification of provisions to certain offersSubdivision (1A) — Offers of units in and recognition of business trusts
s 239CRequirement for registration or recognitions 239DPower of Authority to recognise business trusts constituted outside Singapores 239EPower of Authority to impose conditions or restrictionss 239FRevocation, suspension or withdrawal of recognitionSubdivision (2) — Prospectus requirements
s 240Requirement for prospectus and profile statement, where relevants 240ADebenture issuance programmes 240AARequirement for product highlights sheet, where relevants 240ABExemption from requirement for product highlights sheets 241Lodging supplementary document or replacement documents 242Stop order for prospectus and profile statements 243Contents of prospectuss 245Retention of over‑subscriptions and statement of asset‑backing in debenture issuess 246Contents of profile statements 247Exemption from requirements as to form or content of prospectus or profile statements 248Exemption for certain governmental and international entities as regards signing of copy of prospectus or profile statement by all directors or equivalent personss 249Expert’s consent to issue of prospectus or profile statement containing statement by him or hers 249AConsent of issue manager and underwriter to being named in prospectus or profile statements 250Duration of validity of prospectus and profile statements 251Restrictions on advertisements, etc.s 252Persons liable on prospectus or profile statement to inform person making offer about certain deficienciess 253Criminal liability for false or misleading statementss 254Civil liability for false or misleading statementss 255Defencess 257Document containing offer of securities or securities‑based derivatives contracts for sale deemed prospectuss 258Application and moneys to be held in trust in separate bank account until allotments 259Allotment of securities or securities‑based derivatives contracts where prospectus indicates application to list on approved exchanges 260Prohibition of allotment unless minimum subscription receivedSubdivision (3) — Debentures
s 261Preliminary provisionss 262Offer of asset‑backed securitiess 265Power of court in relation to certain irredeemable debenturess 265ARequirement for trusteess 266Duties of trusteess 267Powers of trustee to apply to court for directions, etc.s 267ARight of Authority, approved exchange and holders of debentures to apply to court for orders 268Obligations of borrowing entitys 268AAdditional obligations of borrowing entity, where debentures are not listed on approved exchanges 269Obligation of guarantor entity to provide informations 270Loans and deposits to be immediately repayable on certain eventss 271Liability of trustees for debenture holdersSubdivision (4) — Exemptions
s 272Issue or transfer of securities or securities‑based derivatives contracts for no considerations 272ASmall offerss 272BPrivate placements 273Offer made under certain circumstancess 274Offer made to institutional investorss 275Offer made to accredited investors and certain other personss 276Offer of securities acquired pursuant to section 274 or 275s 277Offer made using offer information statements 278Offer in respect of international debenturess 279Offer of debentures made by Government or international financial institutionss 280Making offer using automated teller machine or electronic meanss 280AInformation relating to certain offerss 281Revocation of exemptions 282Transactions under exempted offers subject to Division 2 of Part 12 of Companies Act 1967 and Part 12 of this ActSubdivision (5) — General
s 282AAPower of Authority to issue directionsSubdivision (1) — Interpretation
s 283Interpretation of this Divisions 283AUse of term “real estate investment trust”s 284Code on Collective Investment Schemess 284AAuthority may disapply this Division to certain offers and invitationss 284BDivision not to apply to certain collective investment schemes which are business trustss 284CModification of provisions to certain offersSubdivision (2) — Authorisation and recognition
s 285Requirement for authorisation or recognitions 286Authorised schemess 287Recognised schemess 288Revocation, suspension or withdrawal of authorisation or recognitions 289Approval of trusteess 290Chief executive officer, director and key persons, etc., of approved trustees 291Duty of trustees to furnish Authority with such return and information as Authority requiress 292Liability of trusteess 292ADisqualification or removal of director or executive officers 292AAControl of take-over of approved trustees 292ABObjection to control of approved trustees 292BInformation of insolvency, etc.s 292CInterpretation of sections 292C to 292Hs 292DAction by Authority if approved trustee unable to meet obligations, etc.s 292EEffect of assumption of control under section 292Ds 292FDuration of controls 292GResponsibilities of officers, member, etc., of approved trustees 292HRemuneration and expenses of Authority and others in certain casess 293Authority may issue directionss 294Services 295Winding ups 295APower to acquire units of participants of real estate investment trust in certain circumstancess 295BUnclaimed money to be paid to Official Receivers 295CRemedies in cases of oppression or injusticeSubdivision (2A) — Voluntary transfer of business of approved trustee
s 295DInterpretation of this Subdivisions 295EVoluntary transfer of businesss 295FApproval of transferSubdivision (3) — Prospectus requirements
s 296Requirement for prospectus and profile statement, where relevants 296ARequirement for product highlights sheet, where relevants 297Stop order for prospectus and profile statements 298Lodging supplementary document or replacement documents 299Duration of validity of prospectus and profile statements 300Restrictions on advertisements, etc.s 301Issue of units where prospectus indicates application to list on approved exchanges 302Application of provisions relating to securities and securities‑based derivatives contractsSubdivision (4) — Exemptions
s 302AIssue or transfer for no considerations 302BSmall offerss 302CPrivate placements 303Offer or invitation made under certain circumstancess 304Offer made to institutional investorss 304AFirst sale of units acquired pursuant to section 304s 305Offer made to accredited investors and certain other personss 305AFirst sale of units acquired pursuant to section 305s 305BOffer made using offer information statements 305CMaking offer using automated teller machine or electronic meanss 306Power of Authority to exempts 307Revocation of exemptions 308Transactions under exempted offers subject to Division 2 of Part 12 of Companies Act 1967, Division 2 of Part 13 of the Variable Capital Companies Act 2018, and Part 12 of this ActDivision 3 — Hawking of Securities, Securities‑based Derivatives Contracts and Units in Collective Investment Scheme
s 309Securities hawking prohibitedDivision 4 — Capital Markets Products
s 309AInterpretation of this Divisions 309BObligation of issuer to determine, and to notify approved exchange and relevant person of, classification of capital markets productss 309CUse of term “capital protected” or “principal protected”s 309DUse of term “product highlights sheet”s 309EPurpose of this Parts 309FInterpretation of this Parts 309GRegulationss 309HRegulations: permitted purposes for replacing, etc., liability provisionss 309IRegulations: permitted purposes for replacing, etc., offer provisionsPART 14 — APPEALS
s 310Appeals to Ministers 311Appeal Advisory Committeess 312Disclosure of informations 313Regulations for purposes of this PartPART 15 — MISCELLANEOUS
s 316Opportunity to be heards 317Recordss 318Size, durability and legibility of records delivered to Authoritys 318ATranslation of instrumentss 319Supply of magnetic tapes — exclusion of liability for errors or omissionss 320Appointment of assistantss 321Codes, guidelines, etc., by Authoritys 322Power of Authority to publish informations 324Power of court to prohibit payment or transfer of moneys, capital markets products, etc.s 325Power of court to make certain orderss 326Injunctionss 327Criminal jurisdiction of District Courts 328Falsification of records by officer, employee or agent of relevant persons 329Duty not to provide false information to Authoritys 330Duty not to provide false statements to approved exchange, licensed trade repository, approved clearing house, recognised clearing house, authorised benchmark administrator, exempt benchmark administrator and Securities Industry Councils 331Corporate offenders and unincorporated associationss 332Offences by officerss 333Penalties for corporationss 334Power of Authority to reprimand for misconducts 335General penaltys 336Proceedings with consent of Public Prosecutor and power to compound offencess 337Exemptions 337AService of documents, etc.s 337BElectronic services 338Power to make regulations giving effect to treaty, etc.s 339Extra‑territoriality of Acts 340Amendment of Scheduless 341RegulationsCite this legislation
- Official citation
- SFA2001
- Source
- sso.agc.gov.sg
- Data synced
Securities and Futures Act 2001 (sso.agc.gov.sg). Retrieved via LawPlayer, https://lawplayer.com/sg/act/SFA2001
This text is synced from sso.agc.gov.sg. In case of any discrepancy, the official version prevails.
Cited in 82 judgments
Source: Singapore Statutes Online (Attorney-General's Chambers), © Government of Singapore.
The Singapore legislation on this platform is subject to copyright of the Singapore Government and is used/reproduced for the purposes of this platform with the permission of the Attorney-General's Chambers. Users of this platform may check Singapore Statutes Online for the latest version of the Singapore legislation.