Regulation 1
Citation and commencement
These Regulations are the Securities and Futures (Offers of Investments) (Exemption for Depositary Receipts) Regulations 2023 and come into operation on 9 January 2023.
/akn/sg/act/sub_leg/2001/SFA-S2-2023
Securities and Futures (Offers of Investments) (Exemption for Depositary Receipts) Regulations 2023
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- Type
- Subsidiary Legislation
- Status
- In force
- Enacted
- 2001
- Sections
- 3
Quick answer
About this subsidiary legislation
Securities and Futures (Offers of Investments) (Exemption for Depositary Receipts) Regulations 2023 is Singapore Subsidiary Legislation, cited as Subsidiary Legislation SFA-S2-2023 2001, currently marked in force and first recorded in 2001.
Regulation 2
Definitions
Amended byS 478/2026 wef 03/07/2026S 478/2026 wef 03/07/2026S 478/2026 wef 03/07/2026S 478/2026 wef 03/07/2026S 124/2025 wef 25/02/2025
Subregulation 1
Amended byS 478/2026 wef 03/07/2026S 478/2026 wef 03/07/2026S 478/2026 wef 03/07/2026S 478/2026 wef 03/07/2026S 124/2025 wef 25/02/2025
In these Regulations —[Deleted by S 478/2026 wef 03/07/2026](2) [Deleted by S 478/2026 wef 03/07/2026]
Definition
“depositary receipt” means a depositary receipt that is prescribed as “securities” under the Securities and Futures (Prescribed Securities) Regulations 2026 (G.N. No. S 424/2026);
Amended byS 478/2026 wef 03/07/2026
Definition
“rights issue depositary receipt” means a depositary receipt that is offered —
(a)
in connection with a rights issue undertaken by —
(i)
the issuer of any underlying securities; or
(ii)
where the underlying securities are other depositary receipts, the issuer of the shares or units in a business trust that are the underlying securities of those other depositary receipts; and
(b)
to any existing holder of a depositary receipt where the underlying securities of the depositary receipt —
(i)
have been previously issued by the issuer of the underlying securities of the rights issue depositary receipt; and
(ii)
are listed for quotation on a specified exchange;
Amended byS 478/2026 wef 03/07/2026S 478/2026 wef 03/07/2026
Definition
“specified exchange” means —
(a)
a corporation declared by the Authority to be a recognised securities exchange in the Securities and Futures (Recognised Securities Exchange) Order 2018 (G.N. No. S 643/2018);
(b)
the Stock Exchange of Thailand; or
(c)
the Indonesia Stock Exchange.
Amended byS 478/2026 wef 03/07/2026S 124/2025 wef 25/02/2025
Regulation 3
Exemption
Amended byS 478/2026 wef 03/07/2026S 478/2026 wef 03/07/2026
Subdivisions (2) and (3) of Division 1 of Part 13 (other than section 257) of the Act do not apply to an offer of securities that is an offer of depositary receipts where —
(a)
the depositary receipts are or will be listed for quotation or quoted on an approved exchange; (b)the depositary receipts are not issued or proposed to be issued pursuant to any agreement between the issuer of the depositary receipts and —
(i)
the issuer of the underlying securities; or
(ii)
where the underlying securities are other depositary receipts —
(A)
the issuer of those other depositary receipts; or
(B)
the issuer of the shares or units in a business trust that are the underlying securities of those other depositary receipts; and
(c)
in the case of depositary receipts that are not rights issue depositary receipts — all underlying securities of the depositary receipts have been previously issued and are listed for quotation on a specified exchange.
Common questions
- What is Securities and Futures (Offers of Investments) (Exemption for Depositary Receipts) Regulations 2023?
- Securities and Futures (Offers of Investments) (Exemption for Depositary Receipts) Regulations 2023 is Singapore Subsidiary Legislation, cited as Subsidiary Legislation SFA-S2-2023 2001, currently marked in force and first recorded in 2001.
- Is Securities and Futures (Offers of Investments) (Exemption for Depositary Receipts) Regulations 2023 still in force?
- Yes — Securities and Futures (Offers of Investments) (Exemption for Depositary Receipts) Regulations 2023 is currently in force.
- When did Securities and Futures (Offers of Investments) (Exemption for Depositary Receipts) Regulations 2023 take effect?
- Securities and Futures (Offers of Investments) (Exemption for Depositary Receipts) Regulations 2023 was first recorded in 2001.
- How many regulations does Securities and Futures (Offers of Investments) (Exemption for Depositary Receipts) Regulations 2023 have?
- Securities and Futures (Offers of Investments) (Exemption for Depositary Receipts) Regulations 2023 contains 3 regulations.
- Where can I read the official version of Securities and Futures (Offers of Investments) (Exemption for Depositary Receipts) Regulations 2023?
- The official text of Securities and Futures (Offers of Investments) (Exemption for Depositary Receipts) Regulations 2023 is published at sso.agc.gov.sg.