Clause 163

by deleting subsection (2A) and substituting the following subsections:“(2A) If —

a prospectus or a profile statement has been registered;

the prospectus or profile statement relates to units in a collective investment scheme recognised under section 287; and

the Authority is of the opinion that it is necessary to stop the person making the offer of units in the scheme from issuing or selling units in the scheme to give effect to an arrangement relating to cross-border offers of collective investment schemes to which Singapore or the Authority is a party,the Authority may serve an order in writing (called in this section a stop order) on the person making the offer of units in the scheme directing that no or no further units in the scheme be issued or sold.(2B) The Authority must not serve a stop order under subsection (1), (2) or (2A) if —

any of the units in a collective investment scheme to which the prospectus or profile statement relates —

has been issued or sold; and

has been listed for quotation on an approved exchange; and

trading in any of the units in the collective investment scheme mentioned in paragraph (a) has commenced.”; and

by deleting the words “or (2)” in subsections (3), (8)(a) and (10) and substituting in each case the words “, (2) or (2A)”.