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MAS Issues Guidelines on Trust Companies Act 
Posted on Thursday, December 22, 2005 - 12:00 AM

The Monetary Authority of Singapore has issued Guidelines and Notices under the Trust Companies Act which comes into force on 1 February 2006.

The Guidelines are :-

(a) Guidelines on Licence Application and Payment of Fees [Guideline No. TCA-G01];

(b) Guidelines on Criteria for the Grant of a Trust Business Licence [Guideline No. TCA-G02];

(c) Guidelines on Standards of Conduct for Licensed Trust Companies [Guideline No. TCA-G03]; and

(d) Guidelines on Scope of Regulation [Guideline No. TCA-G04].

While the Notices issued are the:-

(a) Notice on Effecting Arrangements through Licensed Trust Companies or Exempt Persons under Section 15(1)(a) and 15(1)(b) of the Act [Notice No. TCA-N01]

(b) Notice on Qualifying Assets and Reduction Percentages [Notice No. TCA-N02].