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Securities and Futures (Market Conduct) (Exemption for Stabilising Action in respect of Dealings in Bonds) (No. 10) Regulations 2005

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Type
Subsidiary Legislation
Status
In force
Enacted
2001
Sections
3

Quick answer

About this subsidiary legislation

Securities and Futures (Market Conduct) (Exemption for Stabilising Action in respect of Dealings in Bonds) (No. 10) Regulations 2005 is Singapore Subsidiary Legislation, cited as Subsidiary Legislation SFA-S423-2005 2001, currently marked in force and first recorded in 2001.

Regulation 1

Citation and commencement

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These Regulations may be cited as the Securities and Futures (Market Conduct) (Exemption for Stabilising Action in respect of Dealings in Bonds) (No. 10) Regulations 2005 and shall come into operation on 29th June 2005.

Regulation 2

Definitions

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In these Regulations, unless the context otherwise requires —“Bonds” means the 10-year US$ guaranteed bonds due June 2015 issued by Wan Hai Lines (Singapore) Pte. Ltd. for a principal amount of up to US$400 million, which are irrevocably and unconditionally guaranteed by Wan Hai Lines Ltd.;“stabilising action” means an action taken in Singapore or elsewhere by Citicorp Investment Bank (Singapore) Limited, or any of its related corporations, to buy, or to offer or agree to buy, any of the Bonds in order to stabilise or maintain the market price of the Bonds in Singapore or elsewhere.

Definition

“Bonds” means the 10-year US$ guaranteed bonds due June 2015 issued by Wan Hai Lines (Singapore) Pte. Ltd. for a principal amount of up to US$400 million, which are irrevocably and unconditionally guaranteed by Wan Hai Lines Ltd.;

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Definition

“stabilising action” means an action taken in Singapore or elsewhere by Citicorp Investment Bank (Singapore) Limited, or any of its related corporations, to buy, or to offer or agree to buy, any of the Bonds in order to stabilise or maintain the market price of the Bonds in Singapore or elsewhere.

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Regulation 3

Exemption

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Sections 197 and 198 of the Act shall not apply to any stabilising action taken in respect of any of the Bonds, within 30 days from the date of issue of the Bonds, with —

(a)

a person referred to in section 274 of the Act; or

(b)

a sophisticated investor as defined in section 275(2) of the Act.

Common questions

What is Securities and Futures (Market Conduct) (Exemption for Stabilising Action in respect of Dealings in Bonds) (No. 10) Regulations 2005?
Securities and Futures (Market Conduct) (Exemption for Stabilising Action in respect of Dealings in Bonds) (No. 10) Regulations 2005 is Singapore Subsidiary Legislation, cited as Subsidiary Legislation SFA-S423-2005 2001, currently marked in force and first recorded in 2001.
Is Securities and Futures (Market Conduct) (Exemption for Stabilising Action in respect of Dealings in Bonds) (No. 10) Regulations 2005 still in force?
Yes — Securities and Futures (Market Conduct) (Exemption for Stabilising Action in respect of Dealings in Bonds) (No. 10) Regulations 2005 is currently in force.
When did Securities and Futures (Market Conduct) (Exemption for Stabilising Action in respect of Dealings in Bonds) (No. 10) Regulations 2005 take effect?
Securities and Futures (Market Conduct) (Exemption for Stabilising Action in respect of Dealings in Bonds) (No. 10) Regulations 2005 was first recorded in 2001.
How many regulations does Securities and Futures (Market Conduct) (Exemption for Stabilising Action in respect of Dealings in Bonds) (No. 10) Regulations 2005 have?
Securities and Futures (Market Conduct) (Exemption for Stabilising Action in respect of Dealings in Bonds) (No. 10) Regulations 2005 contains 3 regulations.
Where can I read the official version of Securities and Futures (Market Conduct) (Exemption for Stabilising Action in respect of Dealings in Bonds) (No. 10) Regulations 2005?
The official text of Securities and Futures (Market Conduct) (Exemption for Stabilising Action in respect of Dealings in Bonds) (No. 10) Regulations 2005 is published at sso.agc.gov.sg.