Singapore legislation

Clause 104

of Securities and Futures (Amendment) Bill

Clause 104

Amendment of section 305A

Section 305A of the principal Act is amended —

(a)

by inserting, immediately after the words “and 305B” in subsection (1), the words “ but subject to subsection (5)”;

(b)

by deleting the word “Securities” in the 1st line of subsection (2) and substituting the words “Subject to subsection (5), securities”;

(c)

by deleting the word “Where” in the 1st line of subsection (3) and substituting the words “Subject to subsection (5), where”; and

(d)

by inserting, immediately after subsection (4), the following subsection:“(5) Subsections (1), (2) and (3) shall not apply where the units in a collective investment scheme acquired are of the same class as other units in the scheme —

(a)

an offer of which has previously been made in or accompanied by a prospectus; and

(b)

which are listed for quotation on a securities exchange.”.

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