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Subsidiary Legislation

Securities and Futures (Market Conduct) (Exemption for Stabilising Action in respect of Dealings in Bonds) (No. 30) Regulations 2005

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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. 30) Regulations 2005 and shall come into operation on 27th December 2005.

reg 2Definitions

In these Regulations, unless the context otherwise requires —“Bonds” means the 5-year and 1-month 1% convertible bonds due January 2011 issued by Shiv-Vani Oil & Gas Exploration Services Ltd. for a principal amount of up to US$55 million, which are convertible into equity shares of Shiv-Vani Oil & Gas Exploration Services Ltd. with a par value of 10 Indian Rupees each;“securities” has the same meaning as in section 239(1) of the Act;“stabilising action” means an action taken in Singapore or elsewhere by Barclays Bank PLC, 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 and 1-month 1% convertible bonds due January 2011 issued by Shiv-Vani Oil & Gas Exploration Services Ltd. for a principal amount of up to US$55 million, which are convertible into equity shares of Shiv-Vani Oil & Gas Exploration Services Ltd. with a par value of 10 Indian Rupees each;

“securities” has the same meaning as in section 239(1) of the Act;

“stabilising action” means an action taken in Singapore or elsewhere by Barclays Bank PLC, 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)

an institutional investor;

(b)

a relevant person as defined in section 275(2) of the Act; or

(c)

a person who acquires the Bonds as principal, if the consideration for the acquisition is not less than $200,000 (or its equivalent in a foreign currency) for each transaction, whether such amount is paid for in cash or by exchange of securities or other assets.