Securities and Futures (Market Conduct) (Exemption for Stabilising Action in respect of Dealings in Bonds) (No. 11) Regulations 2005

These Regulations may be cited as the Securities and Futures (Market Conduct) (Exemption for Stabilising Action in respect of Dealings in Bonds) (No. 11) Regulations 2005 and shall come into operation on 15th July 2005.

In these Regulations, unless the context otherwise requires —“Bonds” means the 5-year EURO convertible bonds due July 2010 issued by Motherson Sumi Systems Limited for a principal amount of up to the EURO equivalent of US$75 million, which are convertible into equity shares of Motherson Sumi Systems Limited with a par value of 1 Indian Rupees each;“stabilising action” means an action taken in Singapore or elsewhere by Nomura International (Hong Kong) Limited, or any of its related corporations, to buy, or to offer or agree to buy, any of the Bonds in order to stabilise or maintain the market price of the Bonds in Singapore or elsewhere.

“Bonds” means the 5-year EURO convertible bonds due July 2010 issued by Motherson Sumi Systems Limited for a principal amount of up to the EURO equivalent of US$75 million, which are convertible into equity shares of Motherson Sumi Systems Limited with a par value of 1 Indian Rupees each;

“stabilising action” means an action taken in Singapore or elsewhere by Nomura International (Hong Kong) Limited, or any of its related corporations, to buy, or to offer or agree to buy, any of the Bonds in order to stabilise or maintain the market price of the Bonds in Singapore or elsewhere.

Sections 197 and 198 of the Act shall not apply to any stabilising action taken in respect of any of the Bonds, within 30 days from the date of issue of the Bonds, with —

a person referred to in section 274 of the Act; or

a sophisticated investor as defined in section 275(2) of the Act.