Regulation 1
Citation and commencement
These Regulations are the Securities and Futures (Offers of Investments) (Shares) (Exemption for Avi-Tech Holdings Pte. Ltd.) Regulations 2021 and come into operation on 6 May 2021.
/akn/sg/act/sub_leg/2001/SFA-S302-2021
Securities and Futures (Offers of Investments) (Shares) (Exemption for Avi-Tech Holdings Pte. Ltd.) Regulations 2021
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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 Avi-Tech Holdings Pte. Ltd.) Regulations 2021 is Singapore Subsidiary Legislation, cited as Subsidiary Legislation SFA-S302-2021 2001, currently marked in force and first recorded in 2001.
Regulation 2
Definitions
In these Regulations —“Avi‑Tech Electronics” means Avi‑Tech Electronics Limited;“Avi-Tech Holdings” means Avi-Tech Holdings Pte. Ltd.;“SGX-ST” means the Singapore Exchange Securities Trading Limited;“SGX-ST Mainboard Rules” means the rules that govern the activities and conduct of issuers listed on the Mainboard of SGX‑ST;“specified restructuring exercise” means the restructuring exercise —
(a)
that is conducted under a compromise or an arrangement for Avi‑Tech Electronics that is approved by the General Division of the High Court under section 210(4) of the Companies Act (Cap. 50); and
(b)
under which —
(i)
all shares in Avi‑Tech Electronics will be transferred to Avi‑Tech Holdings by all the shareholders of Avi-Tech Electronics; and
(ii)
each shareholder of Avi-Tech Electronics will be issued with a share in Avi-Tech Holdings in consideration for each of the shareholder’s shares that is transferred to Avi‑Tech Holdings.
Definition
“SGX-ST Mainboard Rules” means the rules that govern the activities and conduct of issuers listed on the Mainboard of SGX‑ST;
Definition
“specified restructuring exercise” means the restructuring exercise —
(a)
that is conducted under a compromise or an arrangement for Avi‑Tech Electronics that is approved by the General Division of the High Court under section 210(4) of the Companies Act (Cap. 50); and
(b)
under which —
(i)
all shares in Avi‑Tech Electronics will be transferred to Avi‑Tech Holdings by all the shareholders of Avi-Tech Electronics; and
(ii)
each shareholder of Avi-Tech Electronics will be issued with a share in Avi-Tech Holdings in consideration for each of the shareholder’s shares that is transferred to Avi‑Tech Holdings.
Regulation 3
Exemption
Subregulation 1
Subject to paragraph (2), Subdivision (2) of Division 1 of Part XIII (other than section 257) of the Act does not apply in relation to an offer of shares by Avi-Tech Holdings to all the shareholders of Avi‑Tech Electronics that is made in connection with the specified restructuring exercise.
Subregulation 2
The exemption under paragraph (1) only applies if, for the purpose of convening a meeting (called in this paragraph the shareholders’ meeting) that is ordered by the General Division of the High Court under section 210(1) of the Companies Act for the compromise or arrangement under which the specified restructuring exercise is to be carried out —
(a)
Avi‑Tech Electronics prepares and sends to each of its shareholders together with the notice of meeting, the circular relating to the compromise or arrangement that is required by the SGX‑ST Mainboard Rules or SGX‑ST (or both) to be sent to the shareholders; (b)Avi‑Tech Electronics prepares, and sends or disseminates to each of its shareholders, at any time before the date of the shareholders’ meeting, any other document or information relating to the compromise or arrangement that is required by the SGX‑ST Mainboard Rules or SGX‑ST (or both) to be sent or disseminated to the shareholders; and
(c)
the circular mentioned in sub‑paragraph (a) and (where required) the document or information mentioned in sub‑paragraph (b) provide sufficient information to the shareholder to enable the shareholder to make an informed decision on whether or not to agree to the compromise or arrangement, including —
(i)
all the information that is required to be provided to the shareholder under the SGX-ST Mainboard Rules or by SGX-ST (or both); and
(ii)
the terms of the compromise or arrangement and details of the specified restructuring exercise.
Common questions
- What is Securities and Futures (Offers of Investments) (Shares) (Exemption for Avi-Tech Holdings Pte. Ltd.) Regulations 2021?
- Securities and Futures (Offers of Investments) (Shares) (Exemption for Avi-Tech Holdings Pte. Ltd.) Regulations 2021 is Singapore Subsidiary Legislation, cited as Subsidiary Legislation SFA-S302-2021 2001, currently marked in force and first recorded in 2001.
- Is Securities and Futures (Offers of Investments) (Shares) (Exemption for Avi-Tech Holdings Pte. Ltd.) Regulations 2021 still in force?
- Yes — Securities and Futures (Offers of Investments) (Shares) (Exemption for Avi-Tech Holdings Pte. Ltd.) Regulations 2021 is currently in force.
- When did Securities and Futures (Offers of Investments) (Shares) (Exemption for Avi-Tech Holdings Pte. Ltd.) Regulations 2021 take effect?
- Securities and Futures (Offers of Investments) (Shares) (Exemption for Avi-Tech Holdings Pte. Ltd.) Regulations 2021 was first recorded in 2001.
- How many regulations does Securities and Futures (Offers of Investments) (Shares) (Exemption for Avi-Tech Holdings Pte. Ltd.) Regulations 2021 have?
- Securities and Futures (Offers of Investments) (Shares) (Exemption for Avi-Tech Holdings Pte. Ltd.) Regulations 2021 contains 3 regulations.
- Where can I read the official version of Securities and Futures (Offers of Investments) (Shares) (Exemption for Avi-Tech Holdings Pte. Ltd.) Regulations 2021?
- The official text of Securities and Futures (Offers of Investments) (Shares) (Exemption for Avi-Tech Holdings Pte. Ltd.) Regulations 2021 is published at sso.agc.gov.sg.