3. Exemption in respect of prospectus requirements under Eighth or Ninth Schedule

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.

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.

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.

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.

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.

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.