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No. S 494

Securities and Futures Act

(CHAPTER 289)

Securities and Futures (Offers of Investments)
(Collective Investment Schemes)
(Amendment) Regulations 2014

In exercise of the powers conferred by sections 286, 287, 289, 296, 300, 302B, 302C, 305, 305B, 305C, 306, 337 and 341 of the Securities and Futures Act, the Monetary Authority of Singapore hereby makes the following Regulations:

Citation and commencement

1. These Regulations may be cited as the Securities and Futures (Offers of Investments) (Collective Investment Schemes) (Amendment) Regulations 2014 and shall come into operation on 29th July 2014.

Amendment of regulation 3

2. Regulation 3 of the Securities and Futures (Offers of Investments) (Collective Investment Schemes) Regulations 2005 (G.N. No. S 602/2005) (referred to in these Regulations as the principal Regulations) is amended by deleting paragraph (1) and substituting the following paragraphs:

“(1) The forms to be used for the purposes of Division 2 of Part XIII of the Act (other than sections 289, 295A and 305 of the Act) and these Regulations (save for regulations 5A and 32A and paragraph 2(1) of the Sixth Schedule) are those set out at the Authority’s Internet website at http://www.mas.gov.sg (under “OPERA”), or at https://opera.mas.gov.sg, and any reference in those Regulations to a numbered form shall be construed as a reference to the current version of the form bearing the corresponding number which is displayed at that website.

(1A) The forms to be used for the purposes of sections 289 and 295A of the Act and regulations 5A and 32A are those set out at the Authority’s Internet website at http://www.mas.gov.sg (under “Regulations and Financial Stability”, “Regulations, Guidance and Licensing”, “Securities, Futures and Fund Management”) and any reference in that regulation to a numbered form shall be construed as a reference to the current version of the form bearing the corresponding number which is displayed at that website.

(1B) The forms to be used for the purposes of section 305 of the Act and paragraph 2(1) of the Sixth Schedule are those set out at the Authority’s Internet website at http://www.mas.gov.sg (under “CISNet”), or at https://masnetsvc2.mas.gov.sg/cisnet.

(1C) Where the Authority’s Internet website at http://www.mas.gov.sg does not set out a form which may be used for lodging a document with the Authority under a provision in Division 2 of Part XIII of the Act or these Regulations, that document shall be lodged with the Authority using Form 6, as set out at the Authority’s Internet website at http://www.mas.gov.sg (under “OPERA”), or at https://opera.mas.gov.sg.”.

New regulation 5A

3. The principal Regulations are amended by inserting, immediately before regulation 6 under Division 2 of Part II, the following regulation:

“Forms for approved trustees

5A.—(1) For the purposes of section 289(1) of the Act, the application for approval of a public company to act as a trustee for a collective investment scheme shall be submitted to the Authority using Form 3.

(2) Where there is any change in any particular submitted to the Authority by way of Form 3, the applicant shall notify the Authority in writing of such change within 14 days after such change.”.

New Division 4 of Part II

4. Part II of the principal Regulations is amended by inserting, immediately after regulation 10, the following Division:

“Division 4 — Application for Authorisation and Recognition of Collective Investment Schemes

Forms for authorisation and recognition, etc.

10A.—(1) An application to the Authority for authorisation of a collective investment scheme under section 286(1) of the Act shall be made in Form 1.

(2) Where there is any change in any particular submitted to the Authority by way of Form 1 in relation to any collective investment scheme authorised under section 286 of the Act, the responsible person for the collective investment scheme shall notify the Authority of the matter using Form 1-A.

(3) An application to the Authority by the responsible person for a collective investment scheme authorised under section 286 of the Act to withdraw the authorisation of the collective investment scheme under section 288(7) of the Act, shall be made in Form 1-A.

(4) A notice to the Authority by the responsible person for a collective investment scheme authorised under section 286 of the Act of a proposed winding up of the collective investment scheme under section 295(1) of the Act, shall be given in Form 1-A.

(5) An application to the Authority for recognition of a collective investment scheme constituted outside Singapore under section 287(1) of the Act shall be made in Form 2.

(6) Where there is any change in any particular submitted to the Authority by way of Form 2 in relation to any collective investment scheme recognised under section 287 of the Act, the responsible person for the collective investment scheme shall notify the Authority of the matter using Form 2-A.

(7) An application to the Authority by the responsible person for a collective investment scheme recognised under section 287 of the Act to withdraw the recognition of the collective investment scheme under section 288(7) of the Act, shall be made in Form 2-A.

(8) A notice to the Authority by the responsible person for a collective investment scheme recognised under section 287 of the Act of a proposed winding up of the collective investment scheme under section 295(1) of the Act, shall be given in Form 2-A.”.

Amendment of regulation 16

5. Regulation 16 of the principal Regulations is amended —

(a)

by deleting the words “, tagged image file format (TIFF)” in paragraph (1)(a);

(b)

by inserting the word “and” at the end of paragraph (1)(a);

(c)

by deleting sub‑paragraphs (b) and (c) of paragraph (1) and substituting the following sub‑paragraph:

“(b)	the document shall be lodged using the Authority’s Internet website at http://www.mas.gov.sg (under “OPERA”), or at https://opera.mas.gov.sg, or by submitting to the Authority such medium which contains the document, as the Authority may from time to time allow.”;

(d)

by deleting the words “, tagged image file format (TIFF)” in paragraph (3)(a);

(e)

by inserting the word “and” at the end of paragraph (3)(a);

(f)

by deleting sub‑paragraphs (b) and (c) of paragraph (3) and substituting the following sub‑paragraph:

“(b)	the electronic image shall be lodged or submitted using the Authority’s Internet website at http://www.mas.gov.sg (under “OPERA”), or at https://opera.mas.gov.sg, or by submitting to the Authority such medium which contains the electronic image, as the Authority may from time to time allow.”; and

(g)

by deleting paragraph (4).

Amendment of regulation 17

6. Regulation 17(1) of the principal Regulations is amended by inserting, immediately after the words “in paper form to the Authority”, the words “, if the Authority so requests”.

Amendment of Sixth Schedule

7. Paragraph 2 of the Sixth Schedule to the principal Regulations is amended by deleting sub‑paragraph (1) and substituting the following sub‑paragraph:

“(1) A person who wishes to make an offer of units in a restricted scheme that has not been entered into the list of restricted schemes maintained by the Authority shall submit a notification of the offer to the Authority in such form and manner as may be specified in the Authority’s Internet website at http://www.mas.gov.sg (under “CISNet”), or at https://masnetsvc2.mas.gov.sg/cisnet.”.

[G.N. Nos. S 740/2005; S 420/2009; S 179/2010; S 469/2012; S 191/2013]

Made this 23rd day of July 2014.

RAVI MENON

Managing Director,
Monetary Authority of Singapore.

[CMD-CFD0180/2005; AG/LLRD/SL/289/2010/5 Vol. 2]