Division 1 Establishment of Organised Markets
Division 2 Regulation of Approved Exchanges
Subdivision 1 Obligations of approved exchanges
Subdivision 2 Rules of approved exchanges
Subdivision 3 Matters requiring approval of Authority
Subdivision 4 Immunity
Division 3 Regulation of Recognised Market Operators
Division 4 General Powers of Authority
Division 5 Voluntary Transfer of Business of Approved Exchange or Recognised Market Operator
Division 1 Licensing of Trade Repositories
Division 2 Regulation of Licensed Trade Repositories
Subdivision 1 Obligations of licensed trade repositories
Subdivision 2 Rules of licensed trade repositories
Subdivision 3 Matters requiring approval of Authority
Subdivision 4 Powers of Authority
Subdivision 5 Immunity
Division 3 Regulation of Licensed Foreign Trade Repositories
Division 4 General Powers of Authority
Division 5 Voluntary Transfer of Business of Licensed Trade Repository or Licensed Foreign Trade Repository
Division 1 Establishment of Clearing Facilities
Division 2 Regulation of Approved Clearing Houses
Subdivision 1 Obligations of approved clearing houses
Subdivision 2 Rules of approved clearing houses
Subdivision 3 Matters requiring approval of Authority
Subdivision 4 Immunity
Division 3 Regulation of Recognised Clearing Houses
Division 4 Insolvency
Division 5 General Powers of Authority
Division 6 Voluntary Transfer of Business of Approved Clearing House or Recognised Clearing House
Division 1 Establishment of Approved Holding Companies
Division 2 Regulation of Approved Holding Companies
Division 3 Voluntary Transfer of Business of Approved Holding Company
Division 1 Capital Markets Services Licence
Division 1A Voluntary Transfer of Business of Holder of Capital Markets Services Licence
Division 2 Representatives
Division 3 General
Division 1 Books
Division 2 Customer Assets
Division 3 Audit
Division 1 General
Division 1 Designation of Financial Benchmarks
Division 2 Benchmark Administrators of Designated Benchmarks
Subdivision 1 Authorised benchmark administrator
Subdivision 2 Exempt benchmark administrator
Subdivision 3 Code on designated benchmark
Subdivision 4 Obligations of authorised benchmark administrators and exempt benchmark administrators
Subdivision 5 Matters requiring approval of Authority
Division 3 Benchmark Submitters of Designated Benchmarks
Subdivision 1 Authorised benchmark submitter
Subdivision 2 Exempt benchmark submitter
Subdivision 3 Designated benchmark submitter
Subdivision 4 Obligations of authorised benchmark submitters, exempt benchmark submitters and designated benchmark submitters
Subdivision 5 Matters requiring approval of Authority
Division 4 Information Gathering Powers over Financial Benchmarks, Disclosure of Information and Record Keeping
Division 5 General Powers
Division 1 Disclosure of Interest in Corporation
Subdivision 1 Disclosure by directors and chief executive officer of corporation
Subdivision 2 Disclosure by substantial shareholders in corporation
Subdivision 3 Disclosure by corporation
Division 2 Disclosure of Interest in Business Trust and Interest in Trustee‑Manager of Business Trust
Subdivision 1 Disclosure by substantial unitholders of business trust
Subdivision 2 Disclosure by directors and chief executive officer of trustee‑manager of business trust
Subdivision 3 Disclosure by holders of voting shares in trustee‑manager
Subdivision 4 Disclosure by trustee‑manager
Division 3 Disclosure of Interests in Real Estate Investment Trust and Interests in Shares of Responsible Person
Subdivision 1 Disclosure by substantial unitholders of real estate investment trust
Subdivision 2 Disclosure by directors and chief executive officer of responsible person
Subdivision 3 Disclosure by holders of voting shares in responsible person
Subdivision 4 Disclosure by responsible person
Division 4 Civil Penalty
Division 1 Supervisory Powers
Subdivision 1 Powers of Authority to require disclosure of information about capital markets products
Subdivision 2 Inspection powers of Authority
Subdivision 3 Inspection powers of foreign regulatory authority
Division 2 Power of Minister to Appoint Inspector for Investigating Dealings in Securities, etc.
Division 3 Investigative Powers of Authority
Subdivision 1 General
Subdivision 2 Examination of persons
Subdivision 3 Powers to obtain information
Division 4 Transfer of Evidence
Division 1 Prohibited Conduct — Capital Markets Products
Division 2 Prohibited Conduct — Financial Benchmarks
Division 3 Insider Trading
Division 4 Civil Liability
Division 5 Attributed Liability
Subdivision 1 Corporations
Subdivision 2 Partnerships and limited liability partnerships
Subdivision 3 Officers, partners, etc., of entities
Subdivision 4 General
Division 6 Miscellaneous
Division 1 Securities and Securities‑based Derivatives Contracts
Subdivision 1 Interpretation
Subdivision 1A Offers of units in and recognition of business trusts
Subdivision 2 Prospectus requirements
Subdivision 3 Debentures
Subdivision 4 Exemptions
Subdivision 5 General
Division 2 Collective Investment Schemes
Subdivision 1 Interpretation
Subdivision 2 Authorisation and recognition
Subdivision 2A Voluntary transfer of business of approved trustee
Subdivision 3 Prospectus requirements
Subdivision 4 Exemptions
Division 3 Hawking of Securities, Securities‑based Derivatives Contracts and Units in Collective Investment Scheme
Division 4 Capital Markets Products
Subdivision (4) — Exemptions |
Issue or transfer of securities or securities‑based derivatives contracts for no consideration |
Small offers |
272A.—(1) Subdivisions (2) and (3) of this Division (other than section 257) do not apply to personal offers of securities or securities‑based derivatives contracts of an entity or a business trust by a person if —
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Private placement |
272B.—(1) Subdivisions (2) and (3) of this Division (other than section 257) do not apply to offers of securities or securities‑based derivatives contracts of an entity or of a business trust that are made by a person if —
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Offer made under certain circumstances |
273.—(1) Subject to subsection (5), Subdivisions (2) and (3) of this Division (other than section 257) do not apply to an offer of securities or securities‑based derivatives contracts if —
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Offer made to institutional investors |
274. Subdivisions (2) and (3) of this Division (other than section 257) do not apply to an offer of securities or securities‑based derivatives contracts (whether or not they have been previously issued) made to an institutional investor. [4/2017] |
Offer made to accredited investors and certain other persons |
275.—(1) Subdivisions (2) and (3) of this Division (other than section 257) do not apply to an offer of securities or securities‑based derivatives contracts, whether or not they have been previously issued, where the offer is made to a relevant person, if —
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Offer of securities acquired pursuant to section 274 or 275 |
276.—(1) Despite sections 272A, 272B, 273(1)(d), (e) and (f), 277, 278 and 279 but subject to subsection (7), where securities or securities‑based derivatives contracts initially acquired pursuant to an offer made in reliance on an exemption under section 274 or 275 are sold within the period of 6 months from the date of the initial acquisition to any person other than —
[2/2009; 4/2017]
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Offer made using offer information statement |
277.—(1) Subject to subsection (1A), Subdivisions (2) and (3) of this Division (other than section 257) do not apply to an offer of securities or securities‑based derivatives contracts (not being such securities or securities‑based derivatives contracts as may be prescribed by regulations made under section 341) if the following conditions are satisfied:
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Offer in respect of international debentures |
278.—(1) Subdivisions (2) and (3) of this Division (other than section 257) do not apply to an offer of debentures, or units of debentures, by a body incorporated in a country outside Singapore where the offer —
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Offer of debentures made by Government or international financial institutions |
279. Subdivisions (2) and (3) of this Division do not apply to an offer of debentures, or units of debentures, made by or guaranteed by —
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Making offer using automated teller machine or electronic means |
280.—(1) Subject to subsection (3) and such requirements as the Authority may prescribe, a person making an offer of securities or securities‑based derivatives contracts using —
[4/2017]
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Information relating to certain offers |
280A. The Authority may, by regulations made under section 341, require any person or class of persons to provide the Authority with such information relating to an offer of securities or securities‑based derivatives contracts made or proposed to be made in reliance on an exemption under any provision of this Subdivision. [4/2017] |
Revocation of exemption |
281.—(1) Where the Authority considers that a person is contravening, or is likely to contravene, or has contravened any condition or restriction imposed under section 273(6), or that it is necessary in the public interest or for the protection of investors, it may revoke any exemption under this Subdivision, subject to such conditions as it thinks fit.
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Transactions under exempted offers subject to Division 2 of Part 12 of Companies Act 1967 and Part 12 of this Act |
282. To avoid doubt, it is declared that in relation to any transaction carried out under an exempted offer under this Part, nothing in this Part limits or diminishes any liability which any person may incur in respect of any relevant offence under Division 2 of Part 12 of the Companies Act 1967 or Part 12 of this Act or any penalty, award of compensation or punishment in respect of any such offence. |