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

Securities and Futures Act

Chapter 289, Sections 286, 287, 289, 296, 300, 305, 337 and 341

Rg 2

G.N. No. S 241/2002

REVISED EDITION 2004

( )

[1st July 2002]

PART I

PRELIMINARY

Citation

1. These Regulations may be cited as the Securities and Futures (Offers of Investments) (Collective Investment Schemes) Regulations.

Definitions

2.—(1) In these Regulations, unless the context otherwise requires —

“appointed date” means the date of commencement of Part XIII of the Act;¹

¹Part XIII of the Act commenced on 1st July 2002.

“approved trustee” means a public company approved by the Authority under section 289(1) of the Act to act as a trustee for collective investment schemes;

“existing scheme” means a collective investment scheme in respect of which an offer of units in the scheme to the public for subscription or purchase, or an invitation to the public to subscribe for or purchase units in the scheme, has previously been made, whether in Singapore or elsewhere;

“new scheme” means a collective investment scheme in respect of which an offer of units in the scheme to the public for subscription or purchase, or an invitation to the public to subscribe for or purchase units in the scheme, has not previously been made, whether in Singapore or elsewhere;

“old law” means the Companies Act (Cap. 50) in force immediately before the appointed date;

“responsible person”, in relation to a restricted scheme, means —

(a)

in the case of a restricted scheme which is authorised under paragraph 2 of the Fifth Schedule or for which an application for authorisation has been made under that paragraph, the manager for the restricted scheme; or

(b)

in the case of a restricted scheme which is recognised under paragraph 3 of the Fifth Schedule or for which an application for recognition has been made under that paragraph —

(i)	where the restricted scheme is constituted as a corporation, the corporation; or
(ii)	where the restricted scheme is not constituted as a corporation, the manager for the restricted scheme;

“restricted authorised scheme” means a restricted scheme which is constituted in Singapore and authorised under paragraph 2 of the Fifth Schedule;

“restricted recognised scheme” means a restricted scheme which is constituted outside Singapore and recognised under paragraph 3 of the Fifth Schedule;

“restricted scheme” means a collective investment scheme, whether constituted in Singapore or elsewhere, in respect of which an offer of units in the scheme for subscription or purchase, or an invitation to subscribe for or purchase units in the scheme, is made to a sophisticated investor and which satisfies section 305 (1) (i) to (iii) of the Act.

(2) Any word or expression used in these Regulations which is defined in section 283 of the Act shall, unless the context otherwise requires, have the same meaning as in that section.

Forms

3.—(1) A document required to be lodged with the Authority under Division 2 of Part XIII of the Act or these Regulations shall, subject to paragraph (2), be lodged together with the relevant form specified in the First Schedule.

(2) Where there is no relevant form specified in the First Schedule for the document, the document shall be lodged together with Form 7 in the First Schedule.

(3) A form prescribed by these Regulations shall be completed in the English language and in accordance with such directions as may be specified in the form or by the Authority.

(4) The Authority may refuse to accept any form if it is not completed in accordance with this regulation or accompanied by the relevant fee referred to in regulation 5.

[Deleted by S 541/2003]

4. [Deleted by S 541/2003]

Fees

5. The fees specified in the Second Schedule shall be payable to the Authority for the purposes specified therein, and shall not be refundable.

Search within Legislation