Singapore legislation
Regulation 3
Regulation 3
Exemption in respect of prospectus requirements under Eighth or Ninth Schedule
Subregulation 1
Subject to paragraph (3), an issuer who lodges with the Authority a prospectus for the making of an offer of asset-backed securities under section 240(1) of the Act shall be exempt from —
the requirement to provide the names and occupations of each of the directors or equivalent persons of the sponsor in the prospectus under paragraph 2 of Part 2 of the Eighth Schedule to the Principal Regulations; and
paragraph 7 of Part 10 of the Eighth Schedule to the Principal Regulations.
Subregulation 2
Subject to paragraph (3), an issuer who lodges with the Authority a prospectus for the making of an offer of structured notes issued pursuant to a synthetic securitisation transaction under section 240(1) of the Act shall be exempt from paragraphs 1(b)(ii) and 22 of Part 10 of the Ninth Schedule to the Principal Regulations.
Subregulation 3
The exemption under paragraph (1) or (2) shall be subject to the condition that the prospectus referred to in the paragraph shall include the following:
a statement by the sponsor that it accepts full responsibility for the accuracy of the information given in the prospectus; and
a statement by the sponsor to confirm, having made all reasonable enquiries, that to the best of its knowledge and belief —
the facts stated and the opinions expressed in the prospectus are fair and accurate in all material respects as at the date of the prospectus; and
there are no material facts the omission of which would make any statement in the prospectus misleading.