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Trust Companies Act 2005. 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 provide for the licensing and regulation of trust companies and for matters connected therewith. [1 February 2006]
—(1) Every licensed trust company must ensure that all moneys, property, securities, specified securities‑based derivatives contracts and units in a collective investment scheme received or held by the licensed trust company in a fiduciary capacity are always kept distinct and in separate accounts from its own moneys, property, securities ...
Licensed Trust Companies are licensed under section 3 of the Trust Companies Act (Cap. 336) to carry out trust business specified in the First Schedule to the Trust Companies Act. Trust business refers to: (a) the provision of services with respect to the creation of an express trust; (b) acting as trustee in relation to an express trust;
LTCs are able to act as trustees of express trusts, provide services in relation to the creation of an express trust, as well as provide trust administration services. You may wish to refer to MAS’ directory of financial institutions for a list of LTCs in Singapore.
1. This Act is the Business Trusts (Amendment) Act 2022 and comes into operation on a date that the Minister appoints by notification in the Gazette. 5 Amendment of section 2 2. Section 2 of the Business Trusts Act 2004 (called in this Act the principal Act) is amended — (a) by inserting, immediately before the definition of
Oct 15, 2023 · All trust matters in Singapore are governed by the Trustees Act (Cap 337), while the Monetary Authority of Singapore issues licenses to and regulates the trust companies according to the Trust Companies Act (Cap 336). What are the main purposes of a Trust in Singapore?
TRUST COMPANIES ACT (Revised 1985) (CHAPTER 336) ARRANGEMENT OF PROVISIONS 1. Short title. 2. Interpretation. REGISTRATION OF TRUST COMPANIES 3. Application by company to be registered as a trust company. 4. Issue of certificate. 5. Registration of a company incorporated in Malaysia as a trust company. 6. Register of trust companies to be kept.
The Trust Companies Act (Cap 336, 2006 revised edition) (‘Act’) prohibits any person other than a licensed trust company from carrying on (or holding himself out as carrying on) trust business in or from within Singapore, unless that person comes within one of the statutory exceptions or is exempted by the Act from the requirement to hold a ...
Oct 4, 2022 · Oct 04, 2022, 03:02 PM. SINGAPORE - Business trusts in Singapore will need to provide more information about their beneficial owners, and unit holders will find it easier to vote to remove...
Aug 25, 2021 · The Trust Companies Act, Business Trusts Act, Civil Law Act and the Trustees Act make up the governing trust legislation in Singapore. The Singapore Government modernised The Trustees Act in 2004 for facilitating and promoting wealth management in Singapore. Let’s take a look at some of the key benefits the Singapore Trust Framework provides:
