Regulation 4

Any person who intends to purchase book‑entry MAS securities pursuant to a public notice may apply to purchase the securities on a competitive basis.

An application under paragraph (1) must be made using the electronic application service provided by the Authority.

For the purposes of paragraph (2), the Authority may enter into agreements with users of the electronic application service and issue a user guide setting out the terms and manner of use of the service.

In the event of a malfunction or failure of the electronic application service, an application under paragraph (1) must be made in written form and in accordance with the user guide.

A person who is unable to use the electronic application service to make an application under paragraph (1) for any reason other than a malfunction or failure of the service may make the application in the manner referred to in paragraph (4), if the person pays the Authority an administrative fee of $10 (exclusive of goods and services tax chargeable under the Goods and Services Tax Act 1993) for each such application.

This regulation is subject to regulation 5.

All applications under paragraph (1) must not be for less than the minimum nominal amount of $1,000 and must be made in multiples of $1,000.

All applications under paragraph (1) must be expressed as a bid yield not exceeding 2 decimal places.