Singapore legislation

Section 302A

of Securities and Futures Act 2001

Section 302A

Issue or transfer for no consideration

(1)

Subdivisions (2) and (3) of this Division do not apply to an offer of units in a collective investment scheme (other than an offer of an option to subscribe for or purchase such units) if no consideration is or will be given for the issue or transfer of the units.

(2)

Subdivisions (2) and (3) of this Division do not apply to an offer of an option to subscribe for or purchase units in a collective investment scheme if —

(a)

no consideration is or will be given for the issue or transfer of the option; and

(b)

no consideration is or will be given for the underlying units on the exercise of the option.

Read in full context — Securities and Futures Act 2001 →