S 458

SECURITIES AND FUTURES ACT 2001

(ACT 42 OF 2001)

SECURITIES AND FUTURES (EXEMPTION FROM REQUIREMENT TO HOLD CAPITAL MARKETS SERVICES LICENCE) REGULATIONS 2002

In exercise of the powers conferred by section 99 (1) (h) of the Securities and Futures Act 2001, the Monetary Authority of Singapore hereby makes the following Regulations:

Citation and commencement

1.   These Regulations may be cited as the Securities and Futures (Exemption from Requirement to Hold Capital Markets Services Licence) Regulations 2002 and shall come into operation on 1st October 2002.

Exemption

2.?(1)   Subject to the conditions and restrictions specified in writing by the Authority, Citibank Aktiengesellschaft shall be exempted from the requirement to hold a capital markets services licence to carry on business in dealing in securities when dealing in securities on behalf of any financial institution.

(2)   In this regulation, ?financial institution? means any institution licensed or approved by, or registered with or otherwise regulated by, the Authority under any written law.

Revocation

3.   The Securities Industry (Exemption from Sections 24 (1) and 25) Regulations 2001 (G.N. No. S 506/2001) are revoked.