Source document: https://docs-lawep.s3.us-east-2.amazonaws.com/1698848121093.pdf (Singapore)
Government Securities (Amendment) Bill Bill No.

12/2015.

Read the first time on 13 April 2015.

A BILL i n t i t u l e d An Act to amend the Government Securities Act (Chapter 121A of the 2014 Revised Edition).

Be it enacted by the President with the advice and consent of the Parliament of Singapore, as follows: Short title and commencement 2 1.
This Act may be the Government Securities (Amendment) Act 2015 and comes into operation on such date as the Minister may, by notification in the Gazette, appoint.

cited as 5 New section 18A 2.

The Government Securities Act is amended by inserting, immediately after section 18, the following section: “Transfers and pledges of book-entry Government securities 10 18A.
A holder of book-entry Government securities may transfer or pledge the book-entry Government securities, except where the transfer or pledge is prohibited in, or is not in accordance with, the terms of the issue of the book-entry Government securities.”.

EXPLANATORY STATEMENT This Bill seeks to amend the Government Securities Act (Cap.

121A) for the purpose of restricting the transfers and pledges of certain book-entry Government securities.

Clause 1 relates to the short title and commencement.
Clause 2 inserts a new section 18A which provides that whether book-entry Government securities can be transferred or pledged will be determined by the terms of their issue.

Where the terms of the issue are silent, the book-entry Government securities can be transferred or pledged.

Where the terms of the issue prohibit their transfer or pledge, the book-entry Government securities cannot be transferred or pledged.
Where the terms of the issue provide for conditions to be satisfied for a transfer or pledge, then these conditions must be satisfied before the book-entry Government securities can be transferred or pledged.

3 EXPENDITURE OF PUBLIC MONEY This Bill will involve the Government in extra financial expenditure, the exact amount of which cannot at present be ascertained.