Securities and Futures Act 2001 · 2020 Revised Edition · Part 13 · Offers of Investments
252. Persons liable on prospectus or profile statement to inform person making offer about certain deficiencies
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A person referred to in section 254(3) (other than paragraph (a)) must notify in writing the person making the offer of securities or securities‑based derivatives contracts, as soon as practicable, if the firstmentioned person becomes aware at any time after the prospectus or profile statement is registered by the Authority but before the close of the offer that —
securities
“securities” means —(a)shares, units in a business trust or any instrument conferring or representing a legal or beneficial ownership interest in a corporation, partnership or limited liability partnership;(b)debentures; or(c)any other product or class of products as may be prescribed,but does not include —(d)any unit of a collective investment scheme;(e)any bill of exchange;(f)any certificate of deposit issued by a bank or finance company, whether situated in Singapore or elsewhere; or(g)such other product or class of products as may be prescribed;
a statement in the prospectus or the profile statement is false or misleading;
there is an omission to state any information required to be included in the prospectus under section 243 or there is an omission to state any information required to be included in the profile statement under section 246, as the case may be; or
a new circumstance —
has arisen since the prospectus or the profile statement was lodged with the Authority; and
would have been required to be included in the prospectus under section 243, or required to be included in the profile statement under section 246 (as the case may be) if it had arisen before the prospectus or the profile statement was lodged with the Authority,and the failure to so notify would have been materially adverse from the point of view of an investor.
Any person who contravenes subsection (1) shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $50,000.
For the purposes of subsection (1)(a), any reference to a statement includes a reference to any information presented, regardless of whether such information is in text or otherwise.