Securities and Futures (Offers of Investments) (Collective Investment Schemes) (Exemption) Notification

Status:

Revised Edition
published on 29 Feb 2004

Securities and Futures Act

(Chapter 289, Section 306(1))

Securities and Futures (Offers of Investments) (Collective Investment Schemes) (Exemption) Notification

N 2

G.N. No. S 247/2002

REVISED EDITION 2004

(29th February 2004)

[1st July 2002]

Citation

1. This Notification may be cited as the Securities and Futures (Offers of Investments) (Collective Investment Schemes) (Exemption) Notification.

Interpretation

2. In this Notification, unless the context otherwise requires —

“CapitaMall Trust” means the collective investment scheme known as CapitaMall Trust, constituted as a unit trust under a trust deed made between the manager and the trustee;

“day” means a calendar day;

“manager” means the manager for the CapitaMall Trust;

“participant” means a participant in the CapitaMall Trust;

“trustee” means the trustee for the CapitaMall Trust.

Exemption

3. The Authority hereby exempts the manager and the trustee, in relation to the trust deed constituting the CapitaMall Trust, from regulation 8 (1)(a)(iv) of the Securities and Futures (Offers of Investments) (Collective Investment Schemes) Regulations (Rg 2), subject to the following conditions:

(a)

the units in the CapitaMall Trust shall, within 30 days after a prospectus in respect of those units is registered by the Authority, be listed for quotation on a securities exchange;

(b)

the advertising and marketing materials (including the prospectus) in relation to the CapitaMall Trust shall contain —

(i)	a statement to the effect that the participants shall have no right to request the manager to redeem or purchase their units in the CapitaMall Trust; and
(ii)	a warning to potential investors that the listing for quotation of units in the CapitaMall Trust on a securities exchange does not guarantee a liquid market for those units; and

(c)

the trust deed shall contain a covenant binding the manager that if at any time the units in the CapitaMall Trust —

(i)	are suspended from trading for 60 consecutive days on all securities exchanges on which the units have been listed for quotation; or
(ii)	cease to be listed for quotation on all securities exchanges on which the units have been listed for quotation,

the manager shall, within 30 days after the occurrence of such event, offer to purchase the units of participants in the CapitaMall Trust in accordance with the provisions of the trust deed and the Schedule.

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