Clause 62

by deleting subsection (4) and substituting the following subsection:“(4) Notwithstanding subsection (6), a person does not contravene subsection (1) —

by presenting, before a prospectus or profile statement is registered by the Authority, oral or written material on matters contained in a preliminary document which has been lodged with the Authority, to institutional investors, relevant persons as defined in section 282Z(3) or persons to whom an offer referred to in section 282Z(2) is to be made; or

by presenting oral or written material on matters contained in a prospectus or profile statement which has been lodged with the Authority in respect of an offer of units or derivatives of units in a business trust, before the prospectus or profile statement is registered by the Authority, for the sole purpose of equipping any of the following persons with knowledge of the units or derivatives of units in a business trust in order to enable the person to carry on the regulated activity of dealing in securities, or to provide any financial advisory service, in relation to the units or derivatives of units in a business trust:

a person licensed under this Act in respect of dealing in securities;

an exempt person;

a person who is a representative in respect of dealing in securities under this Act;

a representative of an exempt person;

a person licensed under the Financial Advisers Act (Cap. 110) in respect of advising on any investment product;

an exempt financial adviser;

a person who is a representative in respect of advising on any investment product under the Financial Advisers Act;

a representative of an exempt financial adviser.”;

by deleting the word “and” at the end of subsection (8)(b);

by deleting the full-stop at the end of paragraph (c) of subsection (8) and substituting the word “; and”, and by inserting immediately thereafter the following paragraph:“(d)it complies with such requirements as may be prescribed by the Authority by regulations made under section 341.”; and

by inserting, immediately after subsection (18), the following subsection:“(18A) In subsection (4) —“exempt financial adviser” and “financial advisory service” have the same meanings as in section 2(1) of the Financial Advisers Act;“representative” —

in relation to dealing in securities under this Act or an exempt person, has the same meaning as in section 2(1); or

in relation to advising on any investment product under the Financial Advisers Act or an exempt financial adviser, has the same meaning as in section 2(1) of that Act.”.