32. Extent to which Subdivisions (2) and (3) in Division 2 of Part 13 of Act apply to restricted schemes

For the purposes of section 305(1) and (2) of the Act —

sections 285 to 288, 294, 295 and 296 of the Act do not apply to a restricted scheme except as modified and set out in —

in the case of a restricted scheme other than a restricted real estate investment trust — paragraphs 1 to 8 (other than paragraph 4A) of the Sixth Schedule; and

in the case of a restricted real estate investment trust — paragraphs 4A, 7 and 8 of the Sixth Schedule;

sections 289 to 292 of the Act do not apply to a restricted scheme constituted in Singapore, or a restricted real estate investment trust, except with the following modifications:

in the case of a restricted scheme constituted in Singapore other than a restricted real estate investment trust — a reference to a collective investment scheme which is authorised under section 286 of the Act is to be read as a reference to a restricted scheme which is constituted in Singapore, and entered into the list of restricted schemes maintained by the Authority under paragraph 2(3) of the Sixth Schedule;

in the case of a restricted real estate investment trust — a reference to a collective investment scheme which is authorised under section 286 of the Act is to be read as a reference to a restricted real estate investment trust; and

section 293 of the Act shall apply to a restricted scheme.