Singapore legislation

Clause 277

Securities exchange offer or invitation

(1)

Where —

(a)

shares, debentures, or units of shares or debentures, have not been previously issued and are, or are to be, uniform in all respects with shares or debentures, or units of shares or debentures, previously issued and listed for quotation on a securities exchange; and

(b)

a statement of material facts, which complies with such form and content as prescribed by the Authority, is lodged with the Authority and the securities exchange,Subdivisions (2) and (3) of this Division shall not apply to an offer or invitation in respect of the first-mentioned shares, debentures, or units of shares or debentures, to the public for a period of 6 months from the date of lodgment of the statement of material facts with the Authority.

(2)

For the purposes of this section —

(a)

shares shall be deemed to be uniform in all respects with shares previously issued notwithstanding that they do not carry the same rights to dividends as the latter during the 12 months immediately following the issue; and

(b)

a statement of material facts referred to in subsection (1) shall be deemed to be a prospectus for the purposes of sections 253 and 254.

Read in full context — Securities and Futures Bill →