Singapore legislation

Section 223

of Securities and Futures Act 2001

Section 223

Exception for underwriters

Amended by4/20174/2017

(1)

Sections 218(2) and 219(2) do not apply in respect of —

(a)

subscribing for, or purchasing, securities, securities‑based derivatives contracts or CIS units under an underwriting agreement or a sub‑underwriting agreement;

(b)

entering into an agreement referred to in paragraph (a); or

(c)

selling securities, securities‑based derivatives contracts or CIS units subscribed for, or purchased, under an agreement referred to in paragraph (a).

Amended by4/2017

(2)

Sections 218(3) and 219(3) do not apply in respect of the communication of information in relation to securities, securities‑based derivatives contracts or CIS units —

(a)

to a person solely for the purpose of procuring the person to enter into an underwriting agreement in relation to any such securities, securities‑based derivatives contracts or CIS units; or

(b)

by a person who may be required under an underwriting agreement to subscribe for, or purchase, any such securities, securities‑based derivatives contracts or CIS units if the communication is made to another person solely for the purpose of procuring the other person to do either or both of the following:

(i)

enter into a sub‑underwriting agreement in relation to any such securities, securities‑based derivatives contracts or CIS units;

(ii)

subscribe for, or purchase, any such securities, securities‑based derivatives contracts or CIS units.

Amended by4/2017

Read in full context — Securities and Futures Act 2001 →