Singapore legislation
Regulation 2
of Securities and Futures (Institutional, Professional and Business Investors) Order 2005
Regulation 2
Institutional, professional and business investors
Subregulation 1
For the purposes of section 278(1) of the Act, the Authority hereby specifies any institutional, professional or business investor who is a non-resident as a person who appears to the Authority to have sufficient expertise to understand any risk involved in buying or selling debentures or units of debentures.
Subregulation 2
In sub-paragraph (1), “non-resident” means —
an individual who in the 12 months preceding the time of the offer of the debentures or units of debentures has not resided in Singapore for more than 183 days; or
an entity whose business is not controlled or managed in Singapore at the time of the offer of the debentures or units of debentures.