Government Securities Act 1992

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3 Government Securities Fund

4 Application of moneys in Government Securities Fund

6 Deficiencies in Government Securities Fund

7 Surpluses in Government Securities Fund

8 Application of Financial Procedure Act 1966

9 Withdrawal of moneys from Government Securities Fund

10 Mode of payment out of Government Securities Fund

11 Power to issue Government securities

11A Securities lending arrangements

12 Payment into Government Securities Fund

13 Principal sums and interest charged on Government Securities Fund

14 Issue and form of stocks

15 Register of stocks

17 Interpretation of this Part

18 Issue of book-entry Government securities

18A Transfers and pledges of book-entry Government securities

19 Transfers and pledges effected by Authority under book‑entry clearing system

20 Transfers and pledges effected by other means

21 Authority to be discharged by action on instructions

22 Confirmation of transaction

23 Payment of interest

24 Redemption of Government securities

24A Early redemption

26 Delivery up of stocks and bearer bonds on repayment

27 Acceptance of advance deposits

28 Power to make advance deposits

29A Appointment as primary dealers

29B Conditions of appointment as primary dealers

29C Directions to primary dealers

29D Cancellation, etc., of appointment as primary dealer

29E Appeal to Minister

29F Inspection of books

30 Invitation to take up Government securities and refusal of application

Government Securities Act 1992

2020 REVISED EDITION

This revised edition incorporates all amendments up to and including 1 December 2021 and comes into operation on 31 December 2021

An Act to establish and regulate the Government Securities Fund and to provide for the borrowing of moneys by the issue of Government securities in Singapore.

[6 March 1992]

PART 1

PRELIMINARY

Short title

1. This Act is the Government Securities Act 1992.

Interpretation

2. In this Act, unless the context otherwise requires —

“advance deposits” means such deposits as are received under section 27;

“Authority” means the Monetary Authority of Singapore established under the Monetary Authority of Singapore Act 1970;

“bearer bonds” means bearer bonds issued under Part 4;

“book‑entry Government securities” means any stock or bond issued in Singapore under Part 5 in the form of an entry on the records of the Authority;

“financial institution” means any person licensed, approved, registered or regulated by the Authority, or exempted from such licensing, approval, registration or regulation, under any written law administered by the Authority;

“Government securities” means stocks, bearer bonds, book‑entry Government securities or other securities which may be issued under this Act;

“Government Securities Fund” means the Government Securities Fund established under Part 2;

“primary dealer” means a person approved under Part 7A to be a primary dealer;

“public debt securities” means any securities issued under the Significant Infrastructure Government Loan Act 2021;

“regulations” means regulations made under this Act and, in relation to any particular issue of Government securities, includes any notification in the Gazette varying such regulations in relation to that issue;

“sinking fund” means the sinking fund created under section 25;

“stocks” means stocks issued under Part 4;

“trustee stock” means any of the securities mentioned in the Trustees Act 1967 in which trustees may invest.

[15/2021]

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