Skip to content
laws.sgby aturio
In forceAs enacted
Contents

Subsidiary Legislation

Securities and Futures (Market Conduct) (Exemption for Stabilising Action in respect of Dealings in Bonds) (No. 6) Regulations 2005

Feedback & support

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. 6) Regulations 2005 and shall come into operation on 26th April 2005.

reg 2Definitions

In these Regulations, unless the context otherwise requires —“Bonds” means the 5-year and 1-day fixed rate convertible bonds due April 2010 issued by Mercator Lines Limited for a principal amount of up to US$60 million, which are convertible into new ordinary shares of Rs.1.00 each of Mercator Lines Limited;“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-day fixed rate convertible bonds due April 2010 issued by Mercator Lines Limited for a principal amount of up to US$60 million, which are convertible into new ordinary shares of Rs.1.00 each of Mercator Lines Limited;

“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)

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

(b)

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