Nature of Securities

Securities generally means shares, units in a business trust or debentures. The Securities and Futures Act 2001 (SFA) prescribes the following definition of securities.

According to the SFA

“securities” means —

(a)	shares, units in a business trust or any instrument conferring or representing a legal or beneficial ownership interest in a corporation, partnership or limited liability partnership;
(b)	debentures; or
(c)	any other product or class of products as may be prescribed,

but does not include —

(d)	any unit of a collective investment scheme;
(e)	any bill of exchange;
(f)	any certificate of deposit issued by a bank or finance company, whether situated in Singapore or elsewhere; or
(g)	such other product or class of products as may be prescribed;