Notice TCA-N02 on Qualifying Assets and Reduction Percentages
Sets out the requirements to maintain qualifying assets for licensed trust companies incorporated outside Singapore.
This notice applies to licensed trust companies incorporated outside Singapore.
It sets out requirements on how such licensed trust companies shall maintain qualifying assets, and includes a table on qualifying assets and the applicable valuation methods.
There are no amendment notes for this notice.
Provides guidance on the regulatory scope of the Trust Companies Act, including licensing and reporting requirements for licensed trust companies, exempt trust companies and exempt persons providing trust services.
Set out requirements for licensing, financial resources and conduct of business requirements for licensed trust companies.
Form for licensed trust companies to provide a breakdown of its net asset value or qualifying assets within 14 days from the grant of its licence and thereafter, within 5 months from the end of its financial year.