/akn/sg/act/sub_leg/2001/SFA-S728-2005
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Securities and Futures (Market Conduct) (Exemption for Stabilising Action in respect of Dealings in Notes) (No. 47) Regulations 2005 is Singapore Subsidiary Legislation, cited as Subsidiary Legislation SFA-S728-2005 2001, currently marked in force and first recorded in 2001.
Citation and commencement
These Regulations may be cited as the Securities and Futures (Market Conduct) (Exemption for Stabilising Action in respect of Dealings in Notes) (No. 47) Regulations 2005 and shall come into operation on 22nd November 2005.
Definitions
In these Regulations, unless the context otherwise requires —“Notes” means the 5-year US$ fixed rate notes due November 2010 issued by ICICI Bank Limited, acting through its Singapore Branch, for a principal amount of up to US$550 million;“securities” has the same meaning as in section 239(1) of the Act;“stabilising action” means an action taken in Singapore or elsewhere by Merrill Lynch (Singapore) Pte. Ltd., or any of its related corporations, to buy, or to offer or agree to buy, any of the Notes in order to stabilise or maintain the market price of the Notes in Singapore or elsewhere.
“Notes” means the 5-year US$ fixed rate notes due November 2010 issued by ICICI Bank Limited, acting through its Singapore Branch, for a principal amount of up to US$550 million;
“stabilising action” means an action taken in Singapore or elsewhere by Merrill Lynch (Singapore) Pte. Ltd., or any of its related corporations, to buy, or to offer or agree to buy, any of the Notes in order to stabilise or maintain the market price of the Notes in Singapore or elsewhere.
Exemption
Sections 197 and 198 of the Act shall not apply to any stabilising action taken in respect of any of the Notes, within 30 days from the date of issue of the Notes, with —
an institutional investor; (b)a relevant person as defined in section 275(2) of the Act; or
a person who acquires the Notes as principal, if the 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 securities or other assets.