Singapore legislation
Clause 6
Clause 6
Amendment of section 277
In the principal Act, in section 277 —
in subsection (1)(a), replace sub‑paragraph (i) with —“(i)units or derivatives of units in a business trust, issued by a trustee‑manager in its capacity as trustee‑manager of the business trust, where the business trust is one the units of which are listed for quotation on an approved exchange;
(ia)SDRs the underlying securities of which are units in a business trust issued by a trustee‑manager in its capacity as trustee‑manager of the business trust, where the business trust is one the units of which are listed for quotation on an approved exchange;”;
in subsection (1)(a)(ii), replace “other than those mentioned in sub‑paragraph (i)” with “(other than those mentioned in sub‑paragraph (i) and SDRs)”;
in subsection (1)(a)(ii), insert “or” at the end;
in subsection (1)(a), after sub‑paragraph (ii), insert —“(iii)SDRs the underlying securities of which are securities issued by a corporation (other than those mentioned in sub‑paragraph (i)), where the corporation is one the shares of which are listed for quotation on an approved exchange;”; and
after subsection (1), insert —“(1AA) For the purposes of subsection (1)(a), units in a business trust or shares of a corporation are treated as being listed for quotation on an approved exchange if SDRs with units in the business trust or shares of the corporation (as the case may be) as the underlying securities are listed for quotation on the approved exchange.”.