(2) such insurance fund operation as guarantee, financing and investment, etc.

quot (4) Receivables financing means any transaction in which value, credit or related services are provided for value in the form of receivables. Receivables financing includes, but is not limited to, factoring, forfaiting, securitization, project financing and refinancing.

3. Trade finance and risk management

An insurance company shall report any changes of its Chairman and General Manager to the financial supervision and regulation department for examination of their qualifications for the positions.

Equivalence of acquisition financing devices to security rights

Security for post commencement finance (paras. 103 and 104)

The Infrastructure Manager will be a network and communications administrator specialized in financial protocols to ensure online trading and direct connection with brokers and the master record keeper global custodian, as well as in real time financial and market data communications.

The specific fund application and the exact percentage of an insurance company's total fund allocated to each of them shall be stipulated by the financial supervision and regulation department.

4 Having good management system and implementation scheme for securities lending and borrowing business

The government is using a variety of instruments, including financial sector credit discipline, to rein in investment demand. Essentially, the government guarantee associated with financing public sector investment is being withdrawn as it should be.

24 Hedging.

Article 50 A securities firm that carries out securities lending and borrowing business shall sign a securities lending and borrowing contract with the customer, and shall open a customer securities guarantee account with the securities registration and settlement organs, and a customer funds guarantee account with the designated commercial bank in the name of the securities firm in accordance with the provisions of the securities regulatory agency under the State Council.

The law should specify that a security right is created by agreement between the buyer, grantor or financial lessee (hereinafter referred to as the grantor ) and the seller, secured creditor or financial lessor (hereinafter referred to as the acquisition financier ) which is in writing and evidences the intent of the grantor to grant a security right or is accompanied by delivery of possession pursuant to the agreement and in accordance with recommendation 9.

The purpose of the provisions of the law on acquisition financing devices (sales with a retention of title arrangement, purchase money security devices and financial leases) is to

(Millions of Singapore dollars percentage of local controlled companies in parentheses)

Article 61 The securities firm shall not provide financing or warranty to other people using the assets of the securities brokerage customers or securities assets management customers.

The availability of such security was considered crucial for the availability of financing for privately financed infrastructure projects.

(b) Develop, administer and maintain system interface with investment advisers, custodians, bankers and all related financial institutions, and maintain the infrastructure and portfolio management and operational systems of the Investment Management Service

(2)The official written documents on risk management or investment strategies of the enterprise concerned have recorded that the combination of said financial assets, the combination of said financial liabilities, or the combination of said financial assets and financial liabilities will be managed and evaluated on the basis of their fair values and be reported to the key management personnel.

Article 127 An insurance agent or an insurance broker shall meet the qualification requirements set forth by the financial supervision and regulation department and shall obtain an insurance agent license or an insurance broker license issued by the financial supervision and regulation department shall register with the authority of industry and commerce administration to obtain a business license and shall pay a guarantee deposit or buy a professional indemnity insurance policy.

Attracting post commencement finance providing priority or security

A Technical Advisory Group, chaired by the Managing Director, would assist in the technical and financial review of the various proposals for SRCF financing as required.

(ii) The seller or financial lessor of the same encumbered asset that has retained title to it pursuant to an acquisition security right

(b) Export Loan Guarantees guarantee schemes to support domestic and export financing for SMEs are generally operated by government agencies or non profit organizations.

The insolvency law should establish the priority that may be accorded to post commencement finance, ensuring at least the payment of the post commencement finance provider ahead of ordinary unsecured creditors, including those unsecured creditors with administrative priority.

Due to the absence or limited role of personal guarantees or securities provided by the project sponsors, project finance is said to be non recourse or limited recourse financing.

Article 38The profits and losses arising from the change in the fair value of a financial asset or financial liability shall be dealt with according to the following provisions, unless it is related to hedging

For this, laws and institutions that protect property rights, encourage openness, improve financial governance and strengthen capital markets are needed.

The Working Group may wish to include a note to States that prefer to follow a non unitary approach that could read along the following lines States that prefer to follow a non unitary approach may wish to maintain the specific terminology (e.g. buyer, seller, financial lessee, financial lessor, etc.).

24 Hedging.

other documents and information requested by the financial supervision and regulation department.

other documents and information requested by the financial supervision and regulation department.

It is expected that this amount would be matched on a reasonable basis by interested donors so as to ensure a minimum critical mass of resources for the SRCF.

C. The concept of project finance

Acquisition security rights include those that are denominated as security rights, as well as those that are denominated as retention of title, arrangements and financial leases.

No units or individuals shall force, incite, assist or accept the securities firm to provide financing or warranty with the assets of the securities brokerage customers or securities assets management customers.

Article 29 The securities firm that is engaged in securities assets management business, capital and securities financing business, securities related finance product sales should get knowledge of identity, property, income status, securities investment experience and risk preference of customers according to prescribed procedure, and record as well as keep the information in written or electronic form.

Reform global economic and financial governance by ensuring effective participation of developing countries in international decision making and norm setting processes as well as by ensuring that global policies and processes in finance, trade, investment and technology are development oriented.

Particular attention should be paid to capital flows so that the global financial market does not develop into a world financial casino .

Securities can be used as the deposit.

Section 5 Securities Lending and Borrowing Business

Frequently, the only unencumbered assets that may be available for securing post commencement finance will be assets recovered through avoidance proceedings.

Each insurance company, insurance assets management company and insurance regulatory bureau

Farmers living in areas where food security and resources are scarce lack financial capital.

(2) Where any shareholder and actual holder of a securities firm force, incite, assist or accept the securities firm to provide financing or warranty with assets of stock brokerage clients or stock asset management clients