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
- Consultations
Last revised date:
- partnerships, business trusts and other types of collective investment vehicles. 6.
- Currently Business Trusts and Unit Trusts are outside the jurisdiction of the ASB. Question 12. MAS seeks comments on the proposal regarding the disclosure of a S-VACCs shareholder register. We agree with this proposal. Question 13.
- We also wish to note that there are no similar requirements in other business structures legislation (e.g., the Companies Act, the Limited Liability Partnership Act or the Business Trust Act). Therefore, we propose that there should be policy consistency with the other acts.
- MAS
- Media Releases
Last revised date:
- Citadelle is not licensed to provide trust business services in Singapore, and is not supervised by MAS.
- business without a licence under the Trust Companies Act (Cap 336). 2 The investigation follows the announcement on 29 June 2020 that MAS and the Accounting and Corporate Regulatory Authority are collaborating with CAD to scrutinise recent developments relating to Wirecard AG.
- Police Force and the Monetary Authority of Singapore (MAS) have launched a joint investigation into Citadelle Corporate Services Pte Ltd (“Citadelle”), Senjo Group Pte Ltd and its subsidiaries (“Senjo”) for suspected falsification of accounts under the Penal Code (Cap 224), as well as carrying on a trust
- MAS
- Consultations
Last revised date:
- trust with active business operations or a holding company (in a group of companies) that has influence over the management of one or more operating companies within the group).
- characteristics of a collective investment scheme (save that the units are not exclusively or primarily non-redeemable at the election of the holders of the units) as a collective investment scheme5. 11 It is not MAS intention to regulate an entity that is actively operating businesses (for instance, a business
- MAS
- Guidance
Last revised date:
- Sets out MAS’ supervisory expectations of sound AML/CFT practices for capital markets intermediaries (CMIs). The paper is based on inspections of CMIs, but the takeaways are applicable to other financial institutions, with the appropriate calibrations. MAS conducted a series of AML/CFT inspections that examined the effectiveness of the AML/CFT frameworks and controls of capital markets intermediaries “Capital markets intermediaries” used in the guidance paper includes capital markets services licensees
- MAS
- Consultations
Last revised date:
- business specified in the First Schedule of the Trust Companies Act; (xi) in relation to a person approved under section 289 of the SFA, the functions carrying out the role of a trustee of a collective investment scheme authorised under section 286 of the Securities and
- (ix) in relation to an insurance broker registered under the Insurance Act, the functions of acting as an insurance broker as defined under section 1A of the Insurance Act; (x) in relation to a trust company licensed under the Trust Companies Act, the functions involving any trust
- MAS
- Speeches
Last revised date:
- Good afternoon. I accepted your invitation to speak not without some trepidation. The Foreign Correspondents Association in any country makes for a formidable audience. But I figured that if you were going to write about Singapore’s financial sector or economy, it might as well be with at least some residue at the back of your minds of what MAS has to say. In any case, having partaken of your generous luncheon meal, it is too late to escape now. Before I go any further, some disclosures: If you
- MAS
- Exemptions
Last revised date:
- trust (BT) that is seeking to list on the SGX-ST from the requirements to include audited and interim financial information in the prospectus for the BT.
- requirements of the Securities & Futures (Offers of Investments) (Business Trusts) (No. 2) Regulations 2005 (BTSFR)
- For the period from 1 October 2015 to 31 December 2015 S/N Exemption granted Exemption provision Description No. of exemptions provided 1 Date of exemption granted 30 2015 October Section 282H(1) of the SFA MAS granted an exemption to the trustee-manager of a business
- MAS
- Forms and Templates
Last revised date:
- This appeal is made under section _____ of the Business Trusts Act 2004. 6.
- BUSINESS TRUSTS ACT 2004 (ACT 30 OF 2004) BUSINESS TRUSTS (APPEALS) REGULATIONS 2005 NOTICE OF APPEAL FORM 1 1. Date of Service of Notice on Secretary: _____________________________ 2. Name of Appellant : ____________________________________________ 3. NRIC No.
- Sets out the notice of appeal for an appellant who is aggrieved by the refusal of the registration of a business trust under the BTA. The appellant can submit the form to the “Secretary to the Appeal Advisory Panel” to the address, 10 Shenton Way, MAS Building, Singapore 079117.
- MAS
- Forms and Templates
Last revised date:
- This appeal is made under section _____ of the Business Trusts Act 2004. 6.
- BUSINESS TRUSTS ACT 2004 (ACT 30 OF 2004) BUSINESS TRUSTS (APPEALS) REGULATIONS 2005 PETITION OF APPEAL FORM 2 1. Date of Service of Petition on Secretar y: ____________________________ 2. Name of Appellant : ____________________________________________ 3. NRIC No.
- Sets out the petition of appeal for an appellant who is aggrieved by the refusal of the registration of a business trust under the BTA. The appellant should submit the form to the “Secretary to the Appeal Advisory Panel” to the address, 10 Shenton Way, MAS Building, Singapore 079117.
- MAS
- Media Releases
Last revised date:
- Interested parties can submit their comments via email to MOF_Public_Consultation@mof.gov.sg by indicating “Public Consultation on Companies, Business Trusts and Other Bodies (Miscellaneous Amendments) Bill 2023” in the subject line by 20 February 2023. * * *
- Singapore, 9 February 2023… The Accounting and Corporate Regulatory Authority (ACRA), the Ministry of Finance (MOF), and the Monetary Authority of Singapore (MAS) have proposed legislative amendments to the Companies Act 1967 (CA), Variable Capital Companies Act 2018 (VCC Act) and the Business Trusts
- The public can access the public consultation documents, including the draft Companies, Business Trusts and Other Bodies (Miscellaneous Amendments) Bill 2023, on the REACH consultation portal . The public consultation documents are also available on ACRA , MOF , and MAS ' websites. 4.