Singapore legislation
Regulation 34
Regulation 34
Exemption from aggregation requirement in sections 272A(5)(a) and 272B(3)(a) of Act for structured notes
Subregulation 1
Section 272A(5)(a) of the Act does not apply to a person making an offer of securities or securities‑based derivatives contracts issued by the person in reliance on the exemption under section 272A(1) of the Act, if both of the conditions mentioned in paragraph (3) are satisfied.
Subregulation 2
Section 272B(3)(a) of the Act does not apply to a person making an offer of securities or securities‑based derivatives contracts issued by the person in reliance on the exemption under section 272B(1) of the Act, if both of the conditions mentioned in paragraph (3) are satisfied.
Subregulation 3
The conditions mentioned in paragraphs (1) and (2) are as follows:
the person making the offer is a specified financial institution;
the offer is not a closely related offer (as determined in accordance with regulation 35) in relation to another offer of securities or securities‑based derivatives contracts issued by the person within the period of 12 months.