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In exercise of the powers conferred by section 316 of the Securities and Futures Act 2001, the Monetary Authority of Singapore hereby makes the following Regulations:
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Citation and commencement
- 1. These Regulations may be cited as the Securities and Futures (Opportunity to be Heard) Regulations 2002 and shall come into operation on 1st July 2002.
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Opportunity to be heard
- 2. (1) Where the Act provides for a person to be given an opportunity to be heard by the Authority, the Authority shall post or deliver to that person a notice:
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(a) stating the decision it intends to make that affects him and the grounds for the decision; and
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(b) inviting him to give the Authority, within such period as may be specified in the notice (not being less than 10 days from the date of the receipt of the notice) any written statement, accompanied by relevant supporting documents, as to why the Authority should reconsider the decision it intends to make.
(2) Any written statement referred to in paragraph (1) (b) shall be signed by the person to whom the opportunity to be heard is given, a duly authorised employee of that person, or an advocate and solicitor acting for that person.
(3) The Authority shall consider any written statement and supporting documents referred to in paragraph (1) (b) in making its decision.
(4) For the purposes of this regulation, 'decision' includes any action of, direction by or order issued by the Authority under the Act.
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