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Subsidiary Legislation

Securities and Futures (Market Conduct) (Exemption for Stabilising Action in respect of Dealings in Bonds) (No. 13) Regulations 2004

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Official textFrom Singapore Statutes Online, unchanged

reg 1Citation and commencement

These Regulations may be cited as the Securities and Futures (Market Conduct) (Exemption for Stabilising Action in respect of Dealings in Bonds) (No. 13) Regulations 2004 and shall come into operation on 16th July 2004.

reg 2Definitions

In these Regulations, unless the context otherwise requires —“Bonds” means the US$ fixed rate bonds issued by LG-Caltex Oil Corporation in August 2004 for a principal amount of up to US$500 million; “stabilising action” means an action taken in Singapore or elsewhere by Banc of America Securities LLC, Citigroup Global Markets Inc., Deutsche Bank Securities Inc., or any of their 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 US$ fixed rate bonds issued by LG-Caltex Oil Corporation in August 2004 for a principal amount of up to US$500 million;

“stabilising action” means an action taken in Singapore or elsewhere by Banc of America Securities LLC, Citigroup Global Markets Inc., Deutsche Bank Securities Inc., or any of their 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.

reg 3Exemption

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)

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

(b)

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