Subsidiary Legislation · As enacted
Securities and Futures (Market Conduct) (Exemption for Stabilising Action in respect of Dealings in Notes) (No. 12) Regulations 2004
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 Notes) (No. 12) Regulations 2004 and shall come into operation on 20th April 2004.
reg 2Definitions
In these Regulations, unless the context otherwise requires —“Notes” means the 10-year guaranteed fixed rate notes due April 2014 issued by The Hongkong Land Finance (Cayman Islands) Company Limited for a principal amount of up to US$500 million, which are guaranteed by The Hongkong Land Company, Limited;“stabilising action” means an action taken in Singapore or elsewhere by The Hongkong and Shanghai Banking Corporation Limited, or any of its related corporations, to buy, or to offer or agree to buy any of the Notes in order to stabilise or maintain the market price of the Notes in Singapore or elsewhere.
“Notes” means the 10-year guaranteed fixed rate notes due April 2014 issued by The Hongkong Land Finance (Cayman Islands) Company Limited for a principal amount of up to US$500 million, which are guaranteed by The Hongkong Land Company, Limited;
“stabilising action” means an action taken in Singapore or elsewhere by The Hongkong and Shanghai Banking Corporation Limited, or any of its related corporations, to buy, or to offer or agree to buy any of the Notes in order to stabilise or maintain the market price of the Notes in Singapore or elsewhere.
reg 3Exemption
Subject to paragraph (2), sections 197 and 198 of the Act shall not apply to any stabilising action carried out in respect of any of the Notes with —
a person referred to in section 274 of the Act; or
a sophisticated investor as defined in section 275(2) of the Act.
Paragraph (1) shall not apply to any stabilising action carried out at any time after the expiry of the period of 30 calendar days from the date of the issuance of the Notes.
Subregulation 1
Subject to paragraph (2), sections 197 and 198 of the Act shall not apply to any stabilising action carried out in respect of any of the Notes with —
a person referred to in section 274 of the Act; or
a sophisticated investor as defined in section 275(2) of the Act.
Subregulation 2
Paragraph (1) shall not apply to any stabilising action carried out at any time after the expiry of the period of 30 calendar days from the date of the issuance of the Notes.