Singapore legislation
Regulation 3
Regulation 3
Exemption
Subregulation 1
Sections 197 and 198 of the Act shall not apply to any stabilising action taken in respect of any of the Dollar Preference Shares, within 30 days from the date of issue of the Dollar Preference Shares, with —
an institutional investor;
a relevant person as defined in section 275(2) of the Act; or
a person who acquires the Dollar Preference Shares 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.
Subregulation 2
Sections 197 and 198 of the Act shall not apply to any stabilising action taken in respect of any of the Euro Preference Shares, within 30 days from the date of issue of the Euro Preference Shares, with —
an institutional investor;
a relevant person as defined in section 275(2) of the Act; or
a person who acquires the Euro Preference Shares 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.
Subregulation 3
Sections 197 and 198 of the Act shall not apply to any stabilising action taken in respect of any of the Yen Preference Shares, within 30 days from the date of issue of the Yen Preference Shares, with —
an institutional investor;
a relevant person as defined in section 275(2) of the Act; or
a person who acquires the Yen Preference Shares 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.