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Securities and Futures (Offers of Investments) (Shares and Debentures) (Exemption of China Aviation Oil (Singapore) Corporation Ltd) Regulations 2005

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reg 1Citation and commencement

These Regulations may be cited as the Securities and Futures (Offers of Investments) (Shares and Debentures) (Exemption of China Aviation Oil (Singapore) Corporation Ltd) Regulations 2005 and shall come into operation on 6th December 2005.

reg 2Exemption

(1)

Subject to paragraph (2), China Aviation Oil (Singapore) Corporation Ltd (referred to in this regulation as China Aviation Oil) is exempted from sub-paragraph (i) of regulation 30(4)(a) of the Securities and Futures (Offers of Investments) (Shares and Debentures) Regulations 2005 (G.N. No. S 611/2005), in so far as that sub-paragraph requires Chen Jiulin, in his capacity as a director of China Aviation Oil, to sign the offer information statement to be lodged with the Authority by China Aviation Oil in connection with its proposed debt and equity restructuring exercise.

(2)

The exemption under paragraph (1) is subject to the condition that the offer information statement shall include statements to the effect that —

(a)

Chen Jiulin is suspended from his duties as managing director and chief executive officer of China Aviation Oil;

(b)

Chen Jiulin is not involved in the proposed debt and equity restructuring exercise of China Aviation Oil in respect of which the offer information statement relates; and

(c)

Chen Jiulin does not take responsibility for any of the contents of the offer information statement.

Subregulation 1

Subject to paragraph (2), China Aviation Oil (Singapore) Corporation Ltd (referred to in this regulation as China Aviation Oil) is exempted from sub-paragraph (i) of regulation 30(4)(a) of the Securities and Futures (Offers of Investments) (Shares and Debentures) Regulations 2005 (G.N. No. S 611/2005), in so far as that sub-paragraph requires Chen Jiulin, in his capacity as a director of China Aviation Oil, to sign the offer information statement to be lodged with the Authority by China Aviation Oil in connection with its proposed debt and equity restructuring exercise.

Subregulation 2

The exemption under paragraph (1) is subject to the condition that the offer information statement shall include statements to the effect that —

(a)

Chen Jiulin is suspended from his duties as managing director and chief executive officer of China Aviation Oil;

(b)

Chen Jiulin is not involved in the proposed debt and equity restructuring exercise of China Aviation Oil in respect of which the offer information statement relates; and

(c)

Chen Jiulin does not take responsibility for any of the contents of the offer information statement.