Singapore legislation

Clause 170

of Securities and Futures (Amendment) Bill

Clause 170

Amendment of section 304A

Section 304A of the principal Act is amended by deleting subsection (2) and substituting the following subsection:“(2) Subsection (1) does not apply where the units in a collective investment scheme acquired are of the same class as, or can be converted into units of the same class as, other units in the scheme —

(a)

which are listed for quotation on an approved exchange; and

(b)

in respect of which any offer information statement, introductory document, unitholders’ circular for a reverse take-over, document issued for the purposes of a trust scheme, or any other similar document approved by an approved exchange, was issued in connection with —

(i)

an offer of those units in the scheme; or

(ii)

the listing for quotation of those units in the scheme.”.

Read in full context — Securities and Futures (Amendment) Bill →