On 24/05/2013,
you requested for the version in force on 24/05/2013
incorporating all amendments published on or before 24/05/2013.
The closest version currently available is that of 01/07/2000.
22.
—(1) In this Part —
“register” includes any book, file or index in which securities are registered;
“registered” includes inscribed;
“registered in Singapore” and “registered outside Singapore” mean respectively registered in a register in, and registered in a register outside, Singapore;
“security which is registered in Singapore otherwise than in a subsidiary register” means a security which either —
(a)
is registered in Singapore and is not and cannot without the necessity for an entry in the register in Singapore, become registered outside; or
(b)
is registered both in Singapore and outside but on a transfer cannot, without the necessity for an entry in the register in Singapore, become registered outside in the name of the transferee.
(2) For the purposes of any provision of this Part prohibiting the transfer of securities, a person shall be deemed to transfer a security if he executes any instrument of transfer thereof, whether effective or not, and shall be deemed to transfer it at the place where he executes the instrument.
(3) References in this Part to the person holding a certificate of title or coupon shall be construed as references to the person having physical custody of the certificate of title or coupon.
(4) Where the certificate of title or coupon referred to in subsection (3) is deposited with any person in a locked or sealed receptacle from which he is not entitled to remove it without the authority of some other person, that other person shall be deemed for the purposes of this Part to have the physical custody thereof.
(5) In this Part, “holder” —
(a)
in relation to a security transferable by means of a bearer certificate or to a coupon, includes the person holding the certificate or coupon; and
(b)
in relation to a security which is registered in the name of a deceased person, or of any person who, by reason of bankruptcy, unsoundness of mind or any other disability, is incapable of transferring the security, means the personal representative, trustee in bankruptcy or other person entitled to transfer the security.
(6) The holder of a security or coupon shall be deemed for the purposes of this Part to be a nominee in respect thereof if, as respects the exercise of any rights in respect thereof, he is not entitled to exercise those rights except in accordance with instructions given by some other person.
(7) References in this Part to the person for whom the holder of a security or coupon is a nominee shall be construed as references to the person who is entitled to give instructions, either directly or through the agency of one or more persons, as to the exercise of any rights in respect of the security or coupon and is not in so doing himself under a duty to comply with instructions given by some other person.
(8) A person shall not by reason only that he has a controlling interest in a body corporate be deemed for the purposes of subsection (6) to be entitled to give instructions to that body corporate as to the exercise of rights in respect of any security or coupon of which it is the holder.
(9) A person shall not be deemed to hold a security or coupon as a nominee by reason only that he holds it as trustee if he is entitled to transfer the security or coupon without permission from any other person.
(10) A certificate of title shall not for the purposes of this Part be treated as in the custody of an authorised depositary if either —
(a)
the depositary has no notice of the nature of the certificate; or
(b)
the certificate is deposited with him in a locked or sealed receptacle from which he is not entitled to remove it without the authority of some other person.
(11) Where a certificate of title outside Singapore is by this Part required to be kept in the custody of an authorised depositary, it shall be deemed to be in the custody of an authorised depositary if —
(a)
by his direction or with his assent it is in the custody of some other person who holds it on behalf of and to the order of the authorised depositary; and
(b)
the certificate is not deposited with that other person in a locked or sealed receptacle from which he is not entitled to remove it without the authority of a person other than himself.
(12) Where a certificate of title is by virtue of subsection (11) deemed to be in the custody of an authorised depositary, references in this Part to the depositary parting with the certificate or a coupon belonging thereto shall be construed as references to his permitting the person having the actual custody thereof to part with it otherwise than to the depositary, and references to his destroying the certificate or such a coupon shall be construed as references to his permitting it to be destroyed.