Regulation 1
Citation and commencement
This Order may be cited as the Companies (Exemption) Order 2002 and shall come into operation on 10th June 2002.
/akn/sg/act/sub_leg/1967/CoA-S274-2002
Companies (Exemption) Order 2002
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- Type
- Subsidiary Legislation
- Status
- In force
- Enacted
- 1967
- Sections
- 3
Quick answer
About this subsidiary legislation
Companies (Exemption) Order 2002 is Singapore Subsidiary Legislation, cited as Subsidiary Legislation CoA-S274-2002 1967, currently marked in force and first recorded in 1967.
Regulation 2
Definitions
In this Order, unless the context otherwise requires —“arranger” means the arranger of the initial public offer of the relevant unit trust, namely the Development Bank of Singapore Ltd;“connected broker” means —
(a)
the arranger; or
(b)
any corporation related to the arranger which is licensed as a dealer or investment adviser, is an exempt dealer or is an investment adviser exempt from the requirement to hold an investment adviser’s licence under the Securities Industry Act (Cap. 289); “initial public offer” means an offer to the public of units in a unit trust for subscription or purchase or an invitation to the public to subscribe for or purchase units in a unit trust, such units not having previously been the subject of such an offer or an invitation and not having previously been issued;“institutional investor” means any person or institution referred to in section 106C of the Act;“pre-deal research report” means any report issued prior to the initial public offer of units in the relevant unit trust which —
(a)
advertises the initial public offer; or (b)contains any statement that directly or indirectly refers to the initial public offer, but which contains a statement to the effect that the report does not amount to an offer or invitation to the public to subscribe for or purchase units in the relevant unit trust;“relevant unit trust” means the unit trust scheme initially constituted as SingMall Property Trust and now known as CapitaMall Trust.
Definition
“arranger” means the arranger of the initial public offer of the relevant unit trust, namely the Development Bank of Singapore Ltd;
Definition
“connected broker” means —
(a)
the arranger; or
(b)
any corporation related to the arranger which is licensed as a dealer or investment adviser, is an exempt dealer or is an investment adviser exempt from the requirement to hold an investment adviser’s licence under the Securities Industry Act (Cap. 289);
Definition
“initial public offer” means an offer to the public of units in a unit trust for subscription or purchase or an invitation to the public to subscribe for or purchase units in a unit trust, such units not having previously been the subject of such an offer or an invitation and not having previously been issued;
Definition
“institutional investor” means any person or institution referred to in section 106C of the Act;
Definition
“pre-deal research report” means any report issued prior to the initial public offer of units in the relevant unit trust which —
(a)
advertises the initial public offer; or (b)contains any statement that directly or indirectly refers to the initial public offer, but which contains a statement to the effect that the report does not amount to an offer or invitation to the public to subscribe for or purchase units in the relevant unit trust;
Definition
“relevant unit trust” means the unit trust scheme initially constituted as SingMall Property Trust and now known as CapitaMall Trust.
Regulation 3
Exemption
The Minister hereby exempts a connected broker from section 48 of the Act in respect of any pre-deal research report distributed to any institutional investor subject to the following conditions:
(a)
the pre-deal research report must state —
(i)
the interest of the connected broker in the initial public offer of units in the relevant unit trust; and (ii)that the report is only for circulation to institutional investors;
(b)
the connected broker shall not use the pre-deal research report, or cause it to be used, for the purpose of determining the issue price or the number of units to be issued by the relevant unit trust;
(c)
the connected broker shall not disseminate the pre-deal research report, or cause it to be disseminated, in any manner other than in the form of numbered hard copies, and shall keep a record of the names of the recipients of the copies; and
(d)
the connected broker shall not disseminate the pre-deal research report, or cause it to be disseminated, during such period immediately before the initial public offer of units in the relevant unit trust as may be specified in writing by the Registrar.
Common questions
- What is Companies (Exemption) Order 2002?
- Companies (Exemption) Order 2002 is Singapore Subsidiary Legislation, cited as Subsidiary Legislation CoA-S274-2002 1967, currently marked in force and first recorded in 1967.
- Is Companies (Exemption) Order 2002 still in force?
- Yes — Companies (Exemption) Order 2002 is currently in force.
- When did Companies (Exemption) Order 2002 take effect?
- Companies (Exemption) Order 2002 was first recorded in 1967.
- How many regulations does Companies (Exemption) Order 2002 have?
- Companies (Exemption) Order 2002 contains 3 regulations.
- Where can I read the official version of Companies (Exemption) Order 2002?
- The official text of Companies (Exemption) Order 2002 is published at sso.agc.gov.sg.