Singapore legislation

Clause 58

of Securities and Futures (Amendment) Bill

Clause 58

Amendment of section 240

Section 240 of the principal Act is amended —

(a)

by deleting the words “sections 243 and 244, where applicable” in subsection (1)(a)(i) and substituting the words “section 243”;

(b)

by inserting, immediately after the words “as may be prescribed” in subsection (1)(b), the words “by the Authority”;

(c)

by deleting the words “sections 243 and 244, where applicable” in subsection (4)(a) and substituting the words “section 243”;

(d)

by inserting, immediately after the words “as may be prescribed” in subsection (4)(e), the words “by the Authority”;

(e)

by deleting the words “sections 243 and 244” in subsection (9) and substituting the words “section 243”;

(f)

by inserting, immediately after the words “shall be deemed” in subsection (10)(a), the words “for the purposes of subsection (8)”;

(g)

by inserting, immediately after the words “shall be deemed” in subsection (10)(b), the words “for the purposes of subsection (8)”;

(h)

by deleting the words “it shall be treated as part of the original prospectus or profile statement” in subsection (11) and substituting the words “the prospectus or profile statement as amended shall be deemed for the purposes of subsection (8) to have been lodged when the original prospectus or profile statement was lodged with the Authority”;

(i)

by inserting, immediately after subsection (11), the following subsection:“(11A) An amendment to a prospectus or profile statement that is lodged shall be treated as part of the original prospectus or profile statement.”;

(j)

by deleting subsection (12) and substituting the following subsection:“(12) The Authority may, for public information, publish —

(a)

a prospectus or profile statement lodged with the Authority under this section; and

(b)

where applicable, the translation thereof in the English language lodged with the Authority under section 318A(1),and, for the purposes of this subsection, the person who lodges the prospectus or profile statement and, where applicable, the translation shall provide the Authority with a copy of the prospectus or profile statement and, where applicable, the translation in such form or medium for publication as the Authority may require.”;

(k)

by deleting the words “or 244” in subsection (13)(b);

(l)

by deleting the word “him” in subsection (13)(c) and substituting the words “the director or proposed director”;

(m)

by deleting the word “him” in subsection (14)(c) and substituting the words “the director or proposed director”;

(n)

by deleting paragraphs (b) and (d) of subsection (15);

(o)

by deleting the words “, a judicial manager” in subsection (15)(c); and

(p)

by deleting the semi-colon at the end of subsection (15)(c) and substituting a full-stop.

Read in full context — Securities and Futures (Amendment) Bill →