Securities and Futures (Market Conduct) (Exemption for Stabilising Action in respect of Dealings in Bonds) (No. 14) Regulations 2005

These Regulations may be cited as the Securities and Futures (Market Conduct) (Exemption for Stabilising Action in respect of Dealings in Bonds) (No. 14) Regulations 2005 and shall come into operation on 2nd August 2005.

In these Regulations, unless the context otherwise requires —“Bonds” means the 10-year US$ fixed rate subordinated bonds due August 2015 callable with a step-up in 2010 issued by Hong Leong Bank Berhad in August 2005 for a principal amount of up to US$200 million;“stabilising action” means an action taken in Singapore or elsewhere by BNP Paribas, 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.

“Bonds” means the 10-year US$ fixed rate subordinated bonds due August 2015 callable with a step-up in 2010 issued by Hong Leong Bank Berhad in August 2005 for a principal amount of up to US$200 million;

“stabilising action” means an action taken in Singapore or elsewhere by BNP Paribas, 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.

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 person referred to in section 274 of the Act; or

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