Regulation 1
Citation and commencement
These Regulations are the Securities and Futures (Offers of Investments) (Shares) (Exemption for Units of Shares) Regulations 2016 and come into operation on 31 August 2016.
/akn/sg/act/sub_leg/2001/SFA-S408-2016
Securities and Futures (Offers of Investments) (Shares) (Exemption for Units of Shares) Regulations 2016
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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) (Shares) (Exemption for Units of Shares) Regulations 2016 is Singapore Subsidiary Legislation, cited as Subsidiary Legislation SFA-S408-2016 2001, currently marked in force and first recorded in 2001.
Regulation 2
Exemption
Amended byS 653/2018 wef 08/10/2018
Subregulation 1
Subject to regulation 3, a person is exempt from the requirements under Subdivision (2) of Division 1 of Part XIII of the Act when the person makes an offer of units of shares in Croesus Retail Asset Management Pte Ltd, which is made whenever an offer of units in Croesus Retail Trust is made by reason of the terms of the Trustee‑Manager Share Trust, a trust constituted by deed dated 12 June 2016, in the circumstances described in paragraph (2).
Subregulation 2
Amended byS 653/2018 wef 08/10/2018
The circumstances mentioned in paragraph (1) are that —
(a)
the shares of Croesus Retail Asset Management Pte Ltd are not listed or traded on an approved exchange at the time the offer of units in Croesus Retail Trust is made;
(b)
the number of shares in Croesus Retail Asset Management Pte Ltd beneficially owned by a unitholder of Croesus Retail Trust is an amount determined by the formula:where Ais the number of units in Croesus Retail Trust owned by that unitholder, excluding any option or similar right or interest to acquire any unit in Croesus Retail Trust;Bis the total number of issued units (excluding treasury units) in Croesus Retail Trust; andCis the total number of issued shares (excluding treasury shares) in Croesus Retail Asset Management Pte Ltd; and
(c)
every unit of shares in Croesus Retail Asset Management Pte Ltd carries equal rights and entitlements.
Regulation 3
Condition
Amended byS 653/2018 wef 08/10/2018
The exemption under regulation 2 is subject to the condition that any offer document, including an offer information statement under section 277 of the Act, issued in connection with the offer of units in Croesus Retail Trust must disclose the corresponding offer of units of shares in Croesus Retail Asset Management Pte Ltd.
Common questions
- What is Securities and Futures (Offers of Investments) (Shares) (Exemption for Units of Shares) Regulations 2016?
- Securities and Futures (Offers of Investments) (Shares) (Exemption for Units of Shares) Regulations 2016 is Singapore Subsidiary Legislation, cited as Subsidiary Legislation SFA-S408-2016 2001, currently marked in force and first recorded in 2001.
- Is Securities and Futures (Offers of Investments) (Shares) (Exemption for Units of Shares) Regulations 2016 still in force?
- Yes — Securities and Futures (Offers of Investments) (Shares) (Exemption for Units of Shares) Regulations 2016 is currently in force.
- When did Securities and Futures (Offers of Investments) (Shares) (Exemption for Units of Shares) Regulations 2016 take effect?
- Securities and Futures (Offers of Investments) (Shares) (Exemption for Units of Shares) Regulations 2016 was first recorded in 2001.
- How many regulations does Securities and Futures (Offers of Investments) (Shares) (Exemption for Units of Shares) Regulations 2016 have?
- Securities and Futures (Offers of Investments) (Shares) (Exemption for Units of Shares) Regulations 2016 contains 3 regulations.
- Where can I read the official version of Securities and Futures (Offers of Investments) (Shares) (Exemption for Units of Shares) Regulations 2016?
- The official text of Securities and Futures (Offers of Investments) (Shares) (Exemption for Units of Shares) Regulations 2016 is published at sso.agc.gov.sg.