Singapore legislation
Clause 6
Clause 6
New section 284B
The principal Act is amended by inserting, immediately after section 284A, the following section:“Division not to apply to certain collective investment schemes which are business trusts284B. This Division shall not apply to an offer to the public of units in a collective investment scheme for subscription or purchase, or an invitation to the public to subscribe for or purchase units in a collective investment scheme, where —
the collective investment scheme is also a registered business trust within the meaning of Division 1A; (b)the collective investment scheme is also a business trust and the offer or invitation is one referred to in subsection (1) of section 282P which complies with subsection (2) of that section; or
the collective investment scheme is also a business trust and the offer or invitation is made in reliance on an exemption under Subdivision (3) of Division 1A.”.