Securities and Futures (Offers of Investments) (Use of Term "Real Estate Investment Trust") Order 2007

makes the offer or intended offer only to —

an institutional investor;

an accredited investor;

[Deleted by S 292/2019 wef 08/01/2019](iv)[Deleted by S 292/2019 wef 08/04/2019](v)where the person who makes the offer or intended offer is an entity, its officer or equivalent person, or a spouse, parent, brother, sister, son or daughter of that officer or equivalent person;

where the person who makes the offer or intended offer is an individual, his spouse, parent, brother, sister, son or daughter; or

a person who, if he acquires any right or interest in the arrangement, does so as principal and on terms that the right or interest is acquired at a consideration of not less than $200,000 (or its equivalent in a foreign currency) for each transaction, whether such amount is to be paid for in cash or by exchange of securities, securities‑based derivatives contracts, units in a collective investment scheme or other assets;

informs every person to whom he makes the offer or intended offer that the offer or intended offer does not relate to a collective investment scheme which is authorised under section 286 of the Act or recognised under section 287 of the Act; and

if the offer or intended offer is made to a person referred to in sub-paragraph (a)(ii), (v), (vi) or (vii), satisfies the conditions under sub-paragraph (2).

the offer or intended offer is not accompanied by an advertisement making an offer or calling attention to the offer or intended offer; and

no selling or promotional expenses are paid or incurred in connection with the offer or intended offer, other than expenses incurred —

for administrative or professional services in respect of the offer or intended offer; or

by way of commission or fee for services rendered in respect of the offer or intended offer by —

the holder of a capital market services licence to deal in capital markets products;

an exempt person in respect of dealing in capital markets products; or

a person who is licensed, approved, authorised or otherwise regulated under the laws, codes or other requirements of any foreign jurisdiction in respect of dealing in capital markets products, or who is exempted therefrom in respect of such dealing.(c)[Deleted by S 292/2019 wef 08/04/2019]