Clause 52

by deleting subsection (1) and substituting the following subsections:“(1) Where an offer of securities is made in or accompanied by a prospectus or profile statement which includes a statement purporting to be made by, or based on a statement made by, an expert, the prospectus or profile statement shall not be issued unless —

the expert has given, and has not before the registration of the prospectus or profile statement, as the case may be, withdrawn his written consent to the issue thereof with the statement included in the form and context in which it is included; and

there appears in the prospectus or profile statement, as the case may be, a statement that the expert has given and has not withdrawn his consent.(1A) Every person making the offer shall cause a true copy of every written consent referred to in subsection (1) to be deposited, within 7 days after the registration of the prospectus or profile statement, at the registered office of the issuer in Singapore or, if the issuer has no registered office in Singapore, at the address in Singapore specified in the prospectus for that purpose.(1B) Every issuer shall keep, and make available for inspection by its members and creditors and persons who have subscribed for or purchased the securities to which the prospectus or profile statement relates, without payment of any fee, a true copy of every written consent deposited in accordance with subsection (1A) for a period of at least 6 months after the registration of the prospectus or profile statement.”;

by deleting the words “If any prospectus is issued in contravention of subsection (1), the corporation” in subsection (2) and substituting the words “If any prospectus or profile statement is issued in contravention of subsection (1), the person making the offer”;

by deleting the words “prospectus or class or description of prospectuses” in subsection (3) and substituting the words “prospectus or profile statement or class or description of prospectuses or profile statements”; and

by inserting, immediately after the word “prospectus” in the section heading, the words “or profile statement”.