Clause 47

by deleting the words “or matter” in subsection (1)(a);

by deleting the words “person who lodged the prospectus direct that no or no further shares or debentures, or units of shares or debentures to which the prospectus relates” in the 12th to 14th lines of subsection (1) and substituting the words “person making the offer of securities to which the prospectus relates direct that no or no further securities”;

by deleting the words “or matter” in subsection (2)(a);

by deleting the words “person who lodged the profile statement, direct that no or no further shares or debentures, or units of shares or debentures to which the profile statement relates” in the 14th to 17th lines of subsection (2) and substituting the words “person making the offer of securities to which the profile statement relates direct that no or no further securities”;

by deleting subsection (3) and substituting the following subsection:“(3) Notwithstanding subsections (1) and (2), the Authority shall not serve a stop order if any of the securities to which the prospectus or profile statement relates has been issued or sold, and listed for quotation on a securities exchange and trading in them has commenced.”;

by deleting the words “person who lodged the prospectus or profile statement” in the 2nd and 3rd lines of subsection (4) and substituting the words “person making the offer”;

by deleting paragraph (a) of subsection (4) and substituting the following paragraphs:“(a)the person making the offer (being an entity), the issuer or, where applicable, the underlying entity is in the course of being wound up or otherwise dissolved, whether in Singapore or elsewhere;

by deleting the words “that corporation” in subsection (4)(b) and substituting the words “the person making the offer (being an entity), the issuer or, where applicable, the underlying entity”;

by deleting subsection (5) and substituting the following subsection:“(5) Where applications to subscribe for securities to which the prospectus or profile statement relates have been made prior to the stop order, then —

where the securities have not been issued to the applicants —

the applications shall be deemed to have been withdrawn and cancelled; and

the person making the offer shall, within 14 days from the date of the stop order, pay to the applicants all moneys the applicants have paid on account of their applications for the securities; or

where the securities have been issued to the applicants —

the issue of the securities shall be deemed to be void; and

the person making the offer shall, within 14 days from the date of the stop order, pay to the applicants all moneys paid by them for the securities.”;

by deleting subsection (7) and substituting the following subsection:“(7) Where applications to purchase securities to which the prospectus or profile statement relates have been made prior to the stop order, then —

where the securities have not been transferred to the applicants —

the applications shall be deemed to have been withdrawn and cancelled; and

the person making the offer shall, within 14 days from the date of the stop order, pay to the applicants all moneys the applicants have paid on account of their applications for the securities; or

where the securities have been transferred to the applicants, the sale shall be deemed to be void, and the person making the offer shall —

if documents purporting to evidence title to the securities have been issued to the applicants —

within 7 days from the date of the stop order, inform the applicants to return such documents to the person making the offer within 14 days from that date; and

within 7 days from the date of the receipt of those documents or the date of the stop order, whichever is the later, pay to the applicants all moneys paid by them for the securities; or

if no such documents have been issued to the applicants, within 7 days from the date of the stop order, pay to the applicants all moneys paid by them for the securities.”;

by deleting the words “the person who lodged the prospectus or profile statement directing that no or no further shares in or debentures of, or units of shares in or debentures of, a corporation” in subsection (8) and substituting the words “the person making the offer directing that no or no further securities”; and

by inserting, immediately after subsection (12), the following subsection:“(13) For the purposes of subsections (1)(a) and (2)(a), any reference to a statement shall include a reference to any information presented, regardless of whether such information is in text or otherwise.”.