Definition of “business trust”
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A business trust is a business enterprise structured as a trust. A business trust (“BT”) is a business enterprise structured as a trust....
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- MAS
- Monographs/Information Papers
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- Under section 2 of the Business Trust Act, a unit, in relation to a business trust, means a share in the beneficial ownership in the trust property of the business trust. 8 Under section 2(1) of the SFA, securities-based derivatives contract includes any derivatives contracts of which
- trust 7, where it confers or represents ownership interest in the trust property of a business trust; 2.3.4 a securities-based derivatives contract8, which includes any derivatives contract of which, the underlying thing is a share, debenture or unit in a business trust; or 2.3.5 a
- trust.
- MAS
- Media Releases
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- Singapore, 20 January 2022 … The Monetary Authority of Singapore (MAS) has imposed a composition penalty of S$1.1 million on Vistra Trust (Singapore) Pte. Limited (VTSPL) for its failures to comply with MAS’ Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) requirements. VTSPL is a trust company, licensed under the Trust Companies Act, whose business activities include the creation of trusts and provision of trustee services. 2 An MAS inspection carried out from April 2019
- MAS
- Enforcement Actions
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- Singapore, 20 January 2022 … The Monetary Authority of Singapore (MAS) has imposed a composition penalty of S$1.1 million on Vistra Trust (Singapore) Pte. Limited (VTSPL) for its failures to comply with MAS’ Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) requirements. VTSPL is a trust company, licensed under the Trust Companies Act, whose business activities include the creation of trusts and provision of trustee services. 2 An MAS inspection carried out from April 2019
- MAS
- Speeches
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- Federal Councillor Karin Keller-Sutter, Ladies and gentlemen, 1. A very good morning, I am happy to make it to the Forum in person this year! a. A year ago, we were gathered here at “point zero” – to take a fresh, cross-sector perspective on the way forward for the digital financial services ecosystem. b. We covered two key issues – harnessing the potential of Web3 technology; and mobilising FinTech to tackle sustainability. c. I spoke about three double helixes for FinTech: i. The Swiss-Singapore
- MAS
- Speeches
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- (d) Recognition of Foreign Business Trusts (Sections 282TA to 282TC) 29 The SFA requires that all business trusts offered to retail investors be registered under the BTA to ensure proper governance and to safeguard investors’ rights.
- To enhance investor protection, the notification will be extended to foreign-incorporated companies with a primary listing on the SGX. 26 Similar changes will be made to the Business Trusts Act (“BTA”) in relation to the notification requirements for substantial unitholders’ interests in business trusts
- Hence, foreign-constituted business trusts are generally exempted from registration under the BTA on a case-by-case basis. 30 The amendments will establish a recognition regime for foreign business trusts such that they need not be registered under the BTA for their units to be offered to retail investors
- MAS
- Monographs/Information Papers
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- MAS and Temasek jointly released a report to mark the successful conclusion of the fifth and final phase of Project Ubin. The report provides technical insights into the blockchain-based multi-currency payments network prototype that was built and describes how the network could benefit the financial industry and blockchain ecosystem PROJECT UBIN PHASE 5 Enabling Broad Ecosystem Opportunities POWERED BY -------- FOREWORD Beyond technical experimentation, Phase 5 sought to determine the commercial
- MAS
- Media Releases
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- MAS' efforts to reform the sector on track and reaping results Singapore, 24 August, 1998.. The Managing Director of the Monetary Authority of Singapore, Mr Koh Yong Guan, today said that Singapore's financial sector remains resilient in the face of the economic slowdown. Speaking at a press conference to release MAS' annual report for financial year 1997/98, Mr Koh said: "The financial position of the local banks remains sound despite the decline in profitability. We have monitored the exposure
- MAS
- Notices
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- Requirements for merchant banks holding private equity and venture capital investments. This notice applies to all merchant banks in Singapore that hold private equity and venture capital (PE/VC) investments. It sets out the requirements on PE/VC investments which merchant banks must comply with, including: • Duration and valuation of PE/VC investments. • Involvement in management of investees. • Risk management policy for PE/VC investments. • Qualifications for merchant bank employees handling PE
- MAS
- Consultations
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- Response VIEW DOCUMENT Response to Feedback: Draft Securities and Futures (Amendment) Bill 2004 and Financial Advisers (Amendment) Bill 2004 (198 KB) Consultation Paper VIEW DOCUMENT Draft Securities and Futures (Amendment) Bill 2004 and Financial Advisers (Amendment) Bill 2004 (41 KB) RESPONSE TO FEEDBACK RECEIVED - CONSULTATION PAPER ON DRAFT AMENDMENT BILLS TO THE SECURITIES AND FUTURES ACT AND FINANCIAL ADVISERS ACT On 22 April 2004, MAS issued a Consultation Paper inviting comments on the
- MAS
- Consultations
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- A relevant person would include a corporation or a trustee of a trust whose sole business is to hold investments and whose beneficiaries or shareholders are all accredited investors. 4.3.6 A Physical Assets Fund can be entered into the list of restricted schemes if it is able to satisfy
- trust, if (i) both offers form part of a single plan of financing; (ii) both offers are made for the primary benefit of the same person or persons; or (iii) both offers are made in connection with the same business or in relation to a common business venture.
- the Code on Collective Investment Schemes; (b) an offer of shares or units of shares of a corporation; (c) an offer of debentures or units of debentures (other than asset-backed securities and structured notes) of an entity; or (d) an offer of units or derivatives of units in a business