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Subsidiary Legislation

Securities and Futures (Market Conduct) (Exemption for Stabilising Action in respect of Dealings in Notes) (No. 52) 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 Notes) (No. 52) Regulations 2005 and shall come into operation on 25th November 2005.

reg 2Definitions

In these Regulations, unless the context otherwise requires —“Notes” means the 7-year fixed rate guaranteed senior notes due November 2012 issued by Hopson Development Holdings Limited for a principal amount of up to US$400 million, which are guaranteed by certain subsidiaries of Hopson Development Holdings Limited;“securities” has the same meaning as in section 239(1) of the Act;“stabilising action” means an action taken in Singapore or elsewhere by Credit Suisse First Boston (Europe) 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 7-year fixed rate guaranteed senior notes due November 2012 issued by Hopson Development Holdings Limited for a principal amount of up to US$400 million, which are guaranteed by certain subsidiaries of Hopson Development Holdings Limited;

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

“stabilising action” means an action taken in Singapore or elsewhere by Credit Suisse First Boston (Europe) 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

Sections 197 and 198 of the Act shall not apply to any stabilising action taken in respect of any of the Notes, within 30 days from the date of issue of the Notes, 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 Notes 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.