Singapore legislation

Clause 223

of Securities and Futures Bill

Clause 223

Exception for underwriters

(1)

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

(a)

subscribing for securities under an underwriting agreement or a sub-underwriting agreement;

(b)

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

(c)

selling securities subscribed for under an agreement referred to in paragraph (a).

(2)

Sections 218(3) and 219(3) shall not apply in respect of —

(a)

the communication of information in relation to securities to a person solely for the purpose of procuring the person to enter into an underwriting agreement in relation to any such securities; or

(b)

the communication of information in relation to securities by a person who may be required under an underwriting agreement to subscribe for any such securities 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;

(ii)

subscribe for any such securities.

Read in full context — Securities and Futures Bill →