Singapore legislation
Clause 75
Clause 75
Amendment of section 277
In the Securities and Futures Act 2001, in section 277 —
in subsection (1), after “section 341)”, insert “, whether by means of a rights issue or otherwise,”;
in subsection (1), replace paragraph (a) with —“(a)the securities or securities‑based derivatives contracts are —
units or derivatives of units in a business trust, issued by a trustee‑manager in its capacity as trustee‑manager of the business trust, and the units of that business trust are listed for quotation on an approved exchange; or
securities or securities‑based derivatives contracts other than those mentioned in sub‑paragraph (i) issued by a corporation the shares of which are listed for quotation on an approved exchange;
(aa)if the securities or securities‑based derivatives contracts are units of shares or units of debentures, the issuer of the units is the issuer of those shares or debentures, as the case may be;
(ab)if the securities or securities‑based derivatives contracts are derivatives of units in a business trust, the issuer of the derivatives is the issuer of those units in the business trust;”; and
in subsection (7), after “subsection (1)”, insert “or (1AC)”.