Future version: Effective from 15 Jul 2026
An applicant to become a Depository Agent shall furnish to the Depository such information as the Depository may in its discretion require in connection with the application.
The Depository may, in its absolute discretion, without giving any reason, approve or reject an application for registration as a Depository Agent having due regard to factors including the following:
2.2.1 whether the applicant has the competence, capability, physical capacity (including staff and back-office functions) and financial resources to discharge its duties under the Depository Agent Terms and it is able to meet any obligation it might reasonably be expected to incur thereunder;
2.2.2 whether the applicant, its chief executive officer and its directors are fit and proper persons for the purpose of performing a Depository Agent’s duties under the Depository Agent Terms;
2.2.3 whether the applicant holds a valid capital market services licence for providing custodial services for securities or is excluded or exempted from such requirement by MAS or pursuant to the Securities and Futures Act.
The Depository may approve an application subject to such conditions or restrictions as it may in its absolute discretion deem appropriate. The Depository shall inform the applicant of the imposition or withdrawal of any such condition or restriction. A breach of any such condition or restriction shall constitute a breach of these CDP Rules.
Amended on 15 July 2026.