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Subsidiary Legislation

Securities and Futures (Market Conduct) (Exemption for Stabilising Action in respect of Dealings in Bonds) (No. 25) 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. 25) Regulations 2004 and shall come into operation on 23rd December 2004.

reg 2Definitions

In these Regulations, unless the context otherwise requires —“Bonds” means the 5-year zero coupon convertible bonds due December 2009 issued by International Bank of Taipei for a principal amount of up to US$180 million, which are convertible into common shares of International Bank of Taipei with a par value of NT$10 each;“stabilising action” means an action taken in Singapore or elsewhere by Merrill Lynch International, 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 zero coupon convertible bonds due December 2009 issued by International Bank of Taipei for a principal amount of up to US$180 million, which are convertible into common shares of International Bank of Taipei with a par value of NT$10 each;

“stabilising action” means an action taken in Singapore or elsewhere by Merrill Lynch International, 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.

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.