/akn/sg/act/sub_leg/2001/SFA-S530-2005
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Securities and Futures (Market Conduct) (Exemption for Stabilising Action in respect of Dealings in Bonds) (No. 16) Regulations 2005 is Singapore Subsidiary Legislation, cited as Subsidiary Legislation SFA-S530-2005 2001, currently marked in force and first recorded in 2001.
Citation 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. 16) Regulations 2005 and shall come into operation on 8th August 2005.
Definitions
In these Regulations, unless the context otherwise requires —“Series A Bonds” means the 5-year and 1-day 2% convertible bonds due August 2010 issued by Uttam Galva Steels Limited for a principal amount of up to US$25 million, which are convertible into ordinary shares of Uttam Galva Steels Limited with a par value of 10 Indian Rupees each;“Series B Bonds” means the 5-year and 1-day 2% convertible bonds due August 2010 issued by Uttam Galva Steels Limited for a principal amount of up to US$20 million, which are —
convertible into ordinary shares of Uttam Galva Steels Limited with a par value of 10 Indian Rupees each; and
redeemable at the option of the holder on 9 August 2008 (subject to satisfaction of certain conditions) at 117.25% of the principal amount;“stabilising action” means an action taken in Singapore or elsewhere by Macquarie Securities Limited, or any of its related corporations, to buy, or to offer or agree to buy —
any of the Series A Bonds in order to stabilise or maintain the market price of the Series A Bonds; or (b)any of the Series B Bonds in order to stabilise or maintain the market price of the Series B Bonds, in Singapore or elsewhere.
“Series A Bonds” means the 5-year and 1-day 2% convertible bonds due August 2010 issued by Uttam Galva Steels Limited for a principal amount of up to US$25 million, which are convertible into ordinary shares of Uttam Galva Steels Limited with a par value of 10 Indian Rupees each;
“Series B Bonds” means the 5-year and 1-day 2% convertible bonds due August 2010 issued by Uttam Galva Steels Limited for a principal amount of up to US$20 million, which are —
convertible into ordinary shares of Uttam Galva Steels Limited with a par value of 10 Indian Rupees each; and
redeemable at the option of the holder on 9 August 2008 (subject to satisfaction of certain conditions) at 117.25% of the principal amount;
“stabilising action” means an action taken in Singapore or elsewhere by Macquarie Securities Limited, or any of its related corporations, to buy, or to offer or agree to buy —
any of the Series A Bonds in order to stabilise or maintain the market price of the Series A Bonds; or (b)any of the Series B Bonds in order to stabilise or maintain the market price of the Series B Bonds, in Singapore or elsewhere.
Exemption
Sections 197 and 198 of the Act shall not apply to any stabilising action taken in respect of any of the Series A Bonds within 30 days from the date of issue of the Series A Bonds, or in respect of any of the Series B Bonds within 30 days from the date of issue of the Series B 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.