Regulation 3

a bank that holds a licence granted under section 7 or 79 of the Banking Act (Cap. 19);

a merchant bank that holds a merchant bank licence, or is treated as having been granted a merchant bank licence, under the Banking Act;

a finance company licensed under the Finance Companies Act (Cap. 108);

a company or society registered under the Insurance Act (Cap. 142) as an insurer;

a company registered under the Trust Companies Act (Cap. 336);

the Government or a statutory body;

a pension fund or collective investment scheme;

the holder of a capital markets services licence for —

dealing in securities;

fund management;

providing custodial services for securities;

securities financing; or (v)trading in futures contracts;

a person which carries on the business of dealing in Bonds with —

accredited investors; or

persons whose business involves the acquisition and the disposal or holding of securities (whether as principal or agent);

an institutional investor referred to in regulation 3(1) of the Securities and Futures (Prescribed Specific Classes of Investors) Regulations 2005 (G.N. No. S 369/2005); (k)a person who acquires the Bonds as principal, if the aggregate consideration for the acquisition is not less than $200,000 (or its equivalent in a foreign currency) for each transaction, whether such amount is paid for in cash or by exchange of shares or other assets; (l)a person who acquires the Bonds as principal and —

whose total net personal assets exceed $2 million (or its equivalent in a foreign currency) or whose income in the preceding 12 months is not less than $300,000 (or its equivalent in a foreign currency) at the time of the acquisition; or (ii)in the case of a corporation, whose total net assets exceed $10 million in value (or its equivalent in a foreign currency) as determined by —

the last audited balance-sheet of the corporation; or (B)if the corporation is not required to prepare audited accounts, a balance-sheet of the corporation certified by the corporation as giving a true and fair view of the state of affairs of the corporation as of the date of the balance-sheet, which is a date that is no earlier than 12 months before the date on which the offer in respect of the Bonds is made to the corporation; or (m)an officer of a person making an offer in respect of the Bonds or a spouse, parent, brother, sister, son or daughter of that officer or of the person making the offer or invitation, if he is an individual.